GPT Infraprojects gains nearly 9% on bagging ₹135-crore order from North Central Railway

GPT Infraprojects Ltd shares rallied nearly 9% on Thursday after the company announced receiving a work order for various construction works worth ₹135 crore in Uttar Pradesh.

In a filing to the stock exchanges the company informed that it has received an order valued at ₹135 crore from North Central Railway in Agra, Uttar Pradesh. The contract offered has been bagged by GPT Infraprojects in a Joint Venture (JV), with the company’s share in the JV being 51%.

As per the details of the project won, GPT Infraprojects JV will be working on earthwork in embankment and cutting, which includes blanketing, construction of minor bridges, subways, side drains, toe walls, P Way Track linking, transportation of P.way material, supply and stacking of ballast, leading out of ballast, AT welding, and other ancillary works that lie under North Central Railway in Agra.

After the announcement, shares of GPT Infraprojects jumped as much as 8.8% to a high of ₹188 apiece on NSE. Later stock price closed 3.3% higher at ₹178.1 per share.

Following the latest order win, the flagship company of GPT Group - GPT Infraprojects’ outstanding order book now stands at nearly ₹3,182 crore, with the total order inflow for the ongoing fiscal year 2024 at ₹1,629 crore.

The infrastructure stock has given outstanding returns to its shareholders over a one-year timeline, skyrocketing 265% in the period, and even better returns of a whopping 750% in three years.

GPT Infraprojects shares have recorded a 52-week high of ₹208.05 on the NSE earlier this week on Monday, March 4, 2024, while gaining a decent 10% on a year-on-year (YoY) basis.

GPT Infraprojects is a premier infrastructure company, incorporated in 1980 and based in Kolkata. It is now an established Railway focused player, engaged in the execution of civil and infrastructure projects, especially large bridges and ROBs for Railways. In the Sleeper segment, the company manufactures and supplies concrete sleepers for Railways in India and Africa.