Ahluwalia Contracts (India) Ltd shares moved over 7% higher in morning trade after the company announced a major new project win from Bihar State Tourism Development Corporation Ltd, strengthening its order book visibility.
According to an exchange filing, Ahluwalia Contracts has been awarded an Engineering, Procurement and Construction (EPC) contract for the construction and overall development of the Shri Ram Janmabhoomi Tirtha Kshetra at Punauradham, located in Sitamarhi district of Bihar. The site is traditionally believed to be the birthplace of Mother Sita and is being developed as a major religious and tourism destination.
The scope of the project includes comprehensive civil construction and associated infrastructure development under the EPC model. The order has been awarded by a domestic government entity and does not involve any promoter or group company interest. The company has also clarified that the contract does not fall under related party transactions.
The total value of the order stands at Rs 888.38 crore, inclusive of GST. As per the company’s disclosure, the project is scheduled to be executed over a period of 42 months from the date of commencement.
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