GPT Infraprojects up 8% on Rs 270-crore order win

REUTERS/Amit Dave - RTSCZAY

The shares of GPT Infraprojects jumped as much as 8 percent on January 20 after the company announced that it secured an order of around Rs 270 crore, the second big contract this week.

The company has been asked by Bridge & Roof Company Ltd to build a rail flyover between Allahabad and Bamrauli in Uttar Pradesh.

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Earlier this week, the company got a Rs 216-crore order from Maharashtra Rail Infrastructure Development Corporation Ltd for the construction of extensions of the Ghatkopar Cable Stayed Road overbridge connecting LBS Road junction and Eastern Expressway Junction in Mumbai.

The Kolkata-based infrastructure player, GPT Infraprojects is the flagship company of GPT Group.

The company made inroads into the infrastructure segment in 2004 and is now an established railways-focused player. The company is engaged in the execution of civil and infrastructure projects, especially large bridges and ROBs for railways.

The company also manufactures and supplies concrete sleepers to railways in India and Africa. Its concrete sleeper business is spread out in countries such as South Africa, Namibia, Bangladesh and Sri Lanka.

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The company has orders worth approximately Rs 2,471 crore, including cumulative order inflow of Rs 1,125 crore in the current financial year.

At 2.57 pm, the share was trading 4.9 percent higher at Rs 57.45 on the BSE. The company’s stock has risen 191 percent in the past three years.

GPT Infraprojects is likely to be closely tracked in the run-up to the Budget 2023 as market participants believe that the railway-focussed companies can benefit from the expected announcements related to the sector.