KEC International shares jump over 5% as firm bags order worth ₹1,236 crore for civil business

The infrastructure firm bagged the order from a real estate developer for high-rise residential projects in Western India, which will involve the construction of over 50 lakh square feet of residential buildings along with associated facilities.

The RPG Group firm said this is its largest order in the building and factories (B&F) segment so far.

“This marks a key milestone in our strategic foray into the premium high-rise residential segment, with buildings reaching up to G+70 storeys. These wins have significantly strengthened our civil order book, particularly in the B&F segment, and expanded our presence with the addition of two prestigious clients. With these orders, KEC is now constructing over 70 high-rise buildings for marquee clients across the country,” said Vimal Kejriwal, MD & CEO of KEC International.

With the new order, KEC’s year-to-date order intake surpassed ₹5,500 crore, a growth of ~35% from last year, the company said in a regulatory filing.

After the order announcement, shares of KEC International were trading at ₹927.85 apiece on the National Stock Exchange, rising 4.41%. It had touched an intraday high of ₹938 per share.

Over a month’s time, KEC shares have gained over 7.2%, while year-to-date, the stock has tumbled over 23%.

The company’s market capitalisation stands at ₹24,603.54 crore.

For the March quarter, the engineering, procurement and construction (EPC) firm had reported a 76% growth in consolidated net profit at ₹268 crore in the March quarter, aided by higher revenues as compared to ₹152 crore in the same quarter last fiscal year.

Its revenues increased to ₹6,872 crore during the quarter from ₹6,165 crore in the same period a year ago, posting a rise of 11.46%.

For the entire fiscal year, the net profit or PAT (profit after tax) at ₹571 crore was up by 64.55% against ₹347 crore in FY24, the company said in a filing. Revenue increased to ₹21,847 crore from ₹19,914 crore in the corresponding financial year.