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GPT Infraprojects experiences an 8% surge in shares post announcement of a ₹487 crore order for a railway project. With recent contracts and robust financials, including a 25.9% rise in Q3FY24 income, the company exhibits strong growth prospects.
GPT Infraprojects witnessed an over 8% surge in its shares following the announcement of bagging a significant order valued at ₹487 crore for constructing a new line in the Solapur-Osmanabad section of the Solapur division of Central Railway.
The company revealed that the contract, in joint venture, holds GPT's share at 26%. This achievement adds to the company's recent success of securing a ₹135 crore contract from North Central Railway, Agra.
GPT Infraprojects, the flagship company of GPT Group based in Kolkata, focuses on railway infrastructure projects, including large bridges and road over bridges. With manufacturing units in West Bengal, South Africa, Namibia, and Ghana, the company has demonstrated its commitment to railway infrastructure development.
Explore: Gpt Infraprojects Ltd Share Price
The firm boasts an outstanding order book of approximately ₹3,309 crore, with a total order inflow for fiscal year 2025 projected at ₹127 crore. During the third quarter of fiscal year 2024, GPT Infra reported a substantial 25.9% rise in its consolidated total income, reaching ₹254.4 crore.
The growth was driven by better execution of infrastructure projects and continued momentum in the concrete sleeper business. Consolidated EBITDA also witnessed a commendable increase of 31.3% to ₹30.2 crore, while net profit nearly doubled to ₹14.9 crore during the quarter.
Additional Read: Share Market News
Shares of GPT Infra have gained over 12% year-to-date, reflecting investor confidence in its growth trajectory and project execution capabilities. Over the last year, the stock has surged over 286%, underscoring the market's bullish outlook on the company's prospects.
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This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
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Sources:
https://upstox.com/news/market-news/stocks/gpt-infraprojects-shares-jump-8percent-on-order-win/
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