ITD Cementation India secures Rs 4,850 cr road project

10 Jun 2022 CW Team

ITD Cementation India Limited increased by 4.73% to Rs 64.15 after the company announced that it had received a letter of intent cum notice to proceed with a road project worth Rs 4,850 crore in Uttar Pradesh.

The company has secured a letter of intent cum notice to execute the civil and associated works on an Engineering, Procurement and Construction (EPC) model to construct a six-lane greenfield expressway in Uttar Pradesh worth Rs 4,850 crore.

The company told the media that it is the single-largest EPC order in its history. The company has achieved a record order book of Rs 20,000 crore, which provides multi-year revenue visibility.

It is an engineering and construction company that works on heavy civil, infrastructure and EPC businesses. The company has established presence and expertise in marine structures, mass rapid transit systems (RTS), airports, hydroelectric power, tunnels, dams and irrigation, national highways, bridges and flyovers, expressways, industrial buildings and structures, foundation and specialist engineering.

The company reported a drop of 68.8% in consolidated net profit to Rs 16.38 crore, with a 19.3% surge in net sales to Rs 1,173.84 crore in the fourth quarter (Q4) of FY22, compared to Q4 FY21.

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Also read: Adani Enterprises bags Rs 17,000 cr expressway project in UP under PPP

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