Ahluwalia Contracts bags order worth ₹350 crore from BALCO, shares rise over 5%

In an exchange filing, Ahluwalia Contracts said the contract is for the design and construction of 756 two-bedroom apartments on an EPC (Engineering, Procurement, and Construction) basis at BALCO’s facility in Kobra, Chhattisgarh. The contract has to be executed within 28 months.

Opening the trade higher at ₹1,285 a piece on NSE, Ahluwalia Contracts stock rallied 5.37% intraday to touch a high of ₹1,345 per share.

The stock ended the session 1.93% higher at ₹1,301 per piece on NSE.

In July, Ahluwalia Contracts won a contract to build a new terminal and related facilities at Lal Bahadur International Airport in Varanasi. This project will be completed on an EPC basis in 36 months.

The company also secured a contract from the Airports Authority of India to construct a new terminal, additional structures, and external work at Darbhanga Airport in Bihar. This EPC project is worth ₹572 crore.

In another development, the company was awarded ₹98.80 crore mechanical, electrical, and plumbing (MEP) contracts for the Enterprises Computing and Cybersecurity Training Institute in Bhubaneswar.

In June, Ahluwalia Contracts won an order from Birla Arnaa—a partnership between Birla Estates and M.S. Ramaiah Realty—for civil and architectural work in Bengaluru. This project, which will be completed in two phases, is worth ₹383.98 crore.

Ahluwalia Contracts reported a muted performance in Q1FY25 financials with its net profit slipping over 38% year-on-year to ₹30.56 crore compared to ₹49.71 crore in the same period last year.

Sequentially, the net profit dropped by 84.70% from ₹199.8 crore compared to the last quarter of FY24.

Its revenue from operation rose 20.39% YoY to ₹919.34 crore as against ₹763.61 crore in the corresponding period previous fiscal. On a quarter-on-quarter basis, the figures dropped 20.99% from ₹1,163.66 crore in Q4FY24.