Bondada Engineering shares hit 5% upper circuit on securing ₹939 crore order from NLC India

In a filing to the stock exchanges, on June 12, the company informed the stock exchanges that it has received a Letter of Award (LoA) from NLC India for a work order for Balance of System (BOS) work to set up a 600 Megawatt grid connected solar power project. The company will also undertake the operations and maintenance for three years after the scheduled date of completion (SCOD) at Khavda, Gujarat.

The consideration for the project is ₹939.39 crore and the contract will be executed in 15 months from the date of LOA, the company said.

Last month, on May 23, the company informed the exchanges that its subsidiary Bondada Green Engineering Private Limited received an order from Shiv Shakti Constructions for the fabrication, galvanising and supply of different types of towers. The project was worth ₹2.31 crore.

The company’s consolidated revenue from operations for the March quarter nearly doubled to ₹505 crore compared to ₹253.63 crore in the corresponding quarter of the preceding financial year. The telecom infrastructure maker’s Profit After Tax (PAT) for the March quarter grew nearly 146% on a year-on-year (YoY) basis to ₹31.43 crore against ₹12.78 crore in the year-ago period.

The telecom infrastructure company’s revenue from operations for FY24 grew 116% to ₹800.72 crore against ₹370.58 crore in the preceding fiscal. The company’s net profit surged 170% to ₹46.3 crore compared to ₹17.13 crore in FY23.