Niraj Cement JV Wins Rs 1.15 Bn Contract from NHAI

04 Apr 2025 CW Team

Niraj Cement Structurals witnessed a 1.81 per cent increase in its share price, reaching Rs 55.13, following the announcement that its joint venture, Niraj-SPPL JV, secured a significant construction contract worth Rs 1.15 billion from the National Highway Authority of India (NHAI). The announcement was made post-market hours on 28 March 2025.

The awarded project involves the construction of five vehicular underpasses (VUPs) at various locations—Km 434+150, Km 452+150, Km 456+000, Km 462+670, and Km 466+270—as well as one flyover at Km 442+610. The scope also includes approach roads and forms part of the infrastructure development along the Puintola to Icchapuram section of National Highway-16 in Odisha. The work will be undertaken on an engineering, procurement, and construction (EPC) basis and is scheduled for completion within 12 months.

Niraj Cement Structurals, a company focused on providing infrastructural services, has demonstrated notable financial resilience. In the third quarter of the financial year 2024-25 (Q3 FY25), the company reported a consolidated net profit of Rs 20.17 million, marking a 65.6 per cent increase year-on-year. This performance was achieved despite a 5.4 per cent decline in revenue from operations, which stood at Rs 1.19 billion compared to the same quarter in the previous fiscal year.

As of 1 April 2025, the company’s market capitalization on the BSE was recorded at Rs 2.38 billion, reflecting positive investor sentiment and confidence in its ongoing and future projects.

News source: Business Standard

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