Shares of GHV Infra Projects declined 2% to ₹1,576.40 on Friday even as the company announced a fresh project win in Mumbai. The company said it has received a Letter of Intent (LOI) from Valor Estate Limited for the PAP and Police Housing Project in Malad (East), Mumbai, with an initial scope of ₹2,000 crore. The project is expected to be completed within 60 months from commencement.
Earlier this month, GHV Infra Projects secured a ₹2,645 crore contract from Rana Exim FZ-LLC in the UAE to develop the Erisha Smart Manufacturing Hub at Ras Al Khaimah Economic Zone. The EPC contract includes the construction of industrial and commercial buildings, adding to the company’s international project pipeline.
In July, the company’s board also approved the issuance of bonus shares in the ratio of 3:2, granting three fully paid-up equity shares for every two shares held by existing shareholders.
Despite the positive project developments and shareholder-friendly measures, the stock witnessed selling pressure in Friday’s session, reflecting broader investor caution.
