RPP Infra Projects Limited witnessed a significant surge in its shares, soaring by 8 percent to reach Rs 68 apiece on July 18, driven by the company's latest achievement. The construction firm announced that its joint venture (JV) with Hs Engineers Associates has secured a notable letter of acceptance for a new project in Himachal Pradesh, valued at Rs 138 crore. With RPP Infra holding a 51 percent stake and its JV partner holding 49 percent, the investment will be made in proportion to their respective capacities. The company expects to complete the project within the agreed timeline, as stated in the exchange filing on July 17.
This recent order win holds considerable significance for RPP Infra, as it marks the company's third successful bid in July alone. Earlier this month, RPP Infra received a letter of acceptance for a new project focused on rectifying a "black spot" through the construction of a three-lane additional flyover in Tamil Nadu. Additionally, the company secured a contract for the beautification of Vandiyur Tank in Madurai City Municipal Corporation, along with other contracts for water supply system improvements and house service connections in various town panchayats.
With an order book standing at Rs 3,240 crore as of June 30, RPP Infra Projects Limited continues to demonstrate its robust presence in the infrastructure sector. The company's revenue for the March quarter witnessed a notable increase of 7.2 percent, reaching Rs 298 crore compared to Rs 278 crore during the same period last year. This latest success further solidifies RPP Infra's position as a key player in the industry and showcases its potential for continued growth and expansion in the future.
