Man Infraconstruction Shares Rise on Rs. 5.83 bn EPC Orders
ECONOMY & POLICY

Man Infraconstruction Shares Rise on Rs. 5.83 bn EPC Orders

Shares of Man Infraconstruction extended gains for a second consecutive session on November 3 after the company announced two engineering, procurement and construction (EPC) orders worth Rs. 5.83 bn. The contracts increased its EPC portfolio to Rs. 8.58 bn from Rs. 2.75 bn in September, strengthening the order pipeline for its standalone business.

The larger contract, valued at Rs. 5.08 bn, covers construction of the Skyscraper residential tower at Marine Lines in Mumbai. The second order is a Rs. 750 mn letter of acceptance from Bharat Mumbai Container Terminal for triangular yard-surcharging reclamation works at Jawaharlal Nehru Port Authority, also known as Nhava Sheva Port, in Navi Mumbai.

Man Infraconstruction said the expanded EPC portfolio had improved revenue visibility for its standalone business over the coming years. The company’s managing director, Manan Shah, said the order book provided a stronger base for future execution, although the announcement did not provide a detailed project completion schedule.

The company reported an 8.7 per cent increase in consolidated net profit to Rs. 652 mn for the second quarter, compared with Rs. 600 mn a year earlier. Revenue from the EPC segment was broadly unchanged at Rs. 629.8 mn, against Rs. 631 mn in the corresponding period last year. The results were announced on October 29.

The shares were trading 1.79 per cent higher at 10.36 am, extending gains for a second session. Despite the recent rise, the stock was down 14.29 per cent year to date and 24.88 per cent over the preceding 12 months. It was 41.8 per cent above its 52-week low of Rs. 77.12, while its 52-week high stood at Rs. 149.58.

Shares of Man Infraconstruction extended gains for a second consecutive session on November 3 after the company announced two engineering, procurement and construction (EPC) orders worth Rs. 5.83 bn. The contracts increased its EPC portfolio to Rs. 8.58 bn from Rs. 2.75 bn in September, strengthening the order pipeline for its standalone business. The larger contract, valued at Rs. 5.08 bn, covers construction of the Skyscraper residential tower at Marine Lines in Mumbai. The second order is a Rs. 750 mn letter of acceptance from Bharat Mumbai Container Terminal for triangular yard-surcharging reclamation works at Jawaharlal Nehru Port Authority, also known as Nhava Sheva Port, in Navi Mumbai. Man Infraconstruction said the expanded EPC portfolio had improved revenue visibility for its standalone business over the coming years. The company’s managing director, Manan Shah, said the order book provided a stronger base for future execution, although the announcement did not provide a detailed project completion schedule. The company reported an 8.7 per cent increase in consolidated net profit to Rs. 652 mn for the second quarter, compared with Rs. 600 mn a year earlier. Revenue from the EPC segment was broadly unchanged at Rs. 629.8 mn, against Rs. 631 mn in the corresponding period last year. The results were announced on October 29. The shares were trading 1.79 per cent higher at 10.36 am, extending gains for a second session. Despite the recent rise, the stock was down 14.29 per cent year to date and 24.88 per cent over the preceding 12 months. It was 41.8 per cent above its 52-week low of Rs. 77.12, while its 52-week high stood at Rs. 149.58.

Related Stories

Gold Stories

Next Story
Equipment

BorgWarner secures three turbocharger contracts with global powertrain leader

BorgWarner has secured three new turbocharger contracts with a global powertrain technology company. The wins comprise one contract for its variable turbine geometry (VTG) turbocharger and two for its wastegate turbocharger. The technologies will be deployed in the customer's light-vehicle gasoline platforms in South America and Europe, with production scheduled to begin in 2027.The VTG turbochargers are designed for gasoline engines operating under demanding conditions and high-boost pressure requirements. They are engineered to support Miller-cycle engines and withstand exhaust temperatures ..

Next Story
Infrastructure Transport

International Digi Yatra Trials Begin at Seven Airports

India has begun trials of Digi Yatra for international passengers at seven airports, allowing eligible Indian passport holders to use facial recognition at selected airport checkpoints. The facility is currently limited to Indian nationals with e-passports travelling on selected international flights operated by Air India and IndiGo. The Civil Aviation Ministry announced the trials on 1 November, with testing scheduled through December 2026. A wider rollout is expected in 2027 after the ministry assesses passenger feedback gathered during the trial period, according to PTI. The system is inten..

Next Story
Infrastructure Transport

Air India Plans More Wide-Body Jets, CEO Signals Profitability Soon

Air India is seeking to expand its order for wide-body aircraft as it works to increase international passenger traffic, chief executive Tewolde Gebremariam said on Tuesday. The Tata Group-owned carrier is also targeting a return to profitability in the near term, as its turnaround programme addresses fleet, network and service challenges. The comments came months after Gebremariam took charge of the airline. Gebremariam, who previously led Ethiopian Airlines, said the airline wanted more wide-body aircraft. Air India has held discussions with Boeing and Airbus while assessing the economics of..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code