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  1. Kalpataru Projects rallies 7% on receiving new orders worth ₹2,445 crore

Kalpataru Projects rallies 7% on receiving new orders worth ₹2,445 crore

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2 min read • Updated: March 14, 2024, 7:57 PM

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The company’s transmission and distribution (T&D) division received orders worth ₹2,366 crore in India and other markets, while the buildings and factories (B&F) business segment bagged orders worth ₹79 crore.

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Kalpataru Projects rallies 7% on receiving new orders worth ₹2,445 crore

Shares of Kalpataru Projects International Limited (KPIL) surged more than 7% on Thursday after the company announced receiving new orders worth ₹2,445 crore under its different business verticals.

In a filing to the stock exchanges,

Kalpataru Projects along with its joint ventures and international subsidiaries bagged the new orders under its transmission and distribution (T&D), and buildings and factories (B&F) divisions.

While the T&D segment secured orders worth ₹2,366 crore, covering projects in both the domestic and overseas markets, the B&F vertical received orders amounting to ₹79 crore.

Manish Mohnot, MD and CEO, KPIL, said, “We are delighted with the new order wins particularly in our domestic T&D business. We continue to remain optimistic on the T&D opportunities in India given the huge thrust to boost the national transmission system, facilitating integration of renewable power. These orders will significantly strengthen our domestic T&D order book and provide good visibility for future growth.”

A few days ago, KPIL had announced that it had secured a Letter of Intent (LoI) from Aramco, a significant Saudi energy company. KPIL was awarded the LoI to provide Engineering, Procurement, and Construction (EPC) services for three packages in Saudi Arabia’s Master Gas System Network’s third expansion phase. The scope of work for this LoI included laying over 800 kilometres of lateral gas pipeline.

Prior to that, in December 2023, KPIL’s T&D and B&F verticals secured orders worth ₹3,244 crore. While the B&F business got its largest-ever design and build contract for a residential project in South India, spanning about 13 million square feet, granted by a well-known developer, the T&D vertical received orders from international markets. In addition, KPIL received an order for the design and construction of an underground metro rail project, marking its entry into the electric mobility sector with an emphasis on Tunnel Boring Machine (TBM) digging.

Kalpataru Projects International Limited (KPIL), formerly known as Kalpataru Power Transmission Limited, is one of India’s largest engineering, procurement and construction (EPC) companies. It operates in several industries, including power transmission and distribution, buildings and factories, water supply and irrigation, railways, oil and gas pipelines, urban mobility, highways and airports.

Shares of Kalpataru Projects closed 2.8% higher at ₹1,023 apiece on NSE.