Welspun Enterprises’ subsidiary gets letter of acceptance from BMC for works worth ₹159.75 crore, stock up 1%

Welspun Enterprises said the contract value excluding GST stands at ₹159.75 crore and that the project is to be executed within a period of 24 months (excluding monsoon) from the date of notice of commencement. Following the announcement, shares of the firm were trading nearly 1% higher on Thursday morning.

During the first quarter of fiscal year 2025, Welspun Enterprises reported a 28% year-over-year (YoY) rise in its consolidated total income at ₹960 crore. Earnings before interest, tax, depreciation, and amortisation (EBITDA) rose 23% to ₹193 crore while EBITDA margin declined 80 basis points (bps) YoY to 20.1%. Net profit rose 18% YoY to ₹110 crore during the quarter.

Sandeep Garg, Managing Director, Welspun Enterprises said during the earnings announcement that Welspun Michigan Engineers has an opening order book of approximately ₹1,500 crore, taking the firm’s consolidated order book to ₹13,100 crore, with nearly ₹ 2,000 crore worth of L1 orders.

“In the water segment, we see opportunities of over ₹3 lakh crore across distribution, transmission and treatment, of which ₹66,000 crore may be bid out in the near term, while the rest may spill over to medium term. Welspun Michigan order pipeline is very healthy with foreseeable opportunities of about ₹50,000 crore across tunneling and other adjacencies. We will judiciously bid for selective projects and maintain a bullish outlook on further order inflows,” he said.

The firm also indicated that its bid pipeline in water and transportation segments is robust.

Welspun Enterprises, part of Welspun World, is an infrastructure development company focusing on roads, water and wastewater segments. The company also has investments in oil & gas exploration.

Shares of Welspun Enterprises rose over 75% since the beginning of the year. The stock has gained over 81% in the last one year.