Shares of Bondada Engineering surged by 5%, reaching an upper circuit limit of ₹2,320.80 per share on the BSE in early trading on Thursday. This rise followed the company’s announcement of receiving a letter of award (LoA) worth ₹939.39 crore from NLC India.
The LoA pertains to a work order for setting up a 600-megawatt grid-connected solar power project in Khavda, Gujarat. The project, which includes three years of operation and maintenance, is expected to be completed within 15 months from the date of the LoA.
Bondada Engineering, an infrastructure firm specializing in engineering, procurement, and construction (EPC) services, caters to clients in the telecom and solar energy sectors across India.
As of 11:55 AM the shares were trading 5% higher at ₹2,320.80 on NSE.
For the full fiscal year 2023-24, the company reported a PAT of ₹46.31 crore, up from ₹17.13 crore in the previous year. Revenue from operations more than doubled, rising to ₹801 crore from ₹371 crore in the previous fiscal year.
As of January 2024, Bondada Engineering has an order book exceeding ₹1,600 crore, with projects scheduled for execution within the next 12 to 24 months. Additionally, the company has secured L1 status for orders totaling more than ₹1,500 crore, indicating that these projects are expected to commence in the medium term.
