IVRCL soars on bagging two projects worth Rs 405.23 crore

29 Apr 2015

IVRCL is currently trading at Rs. 14.80, up by 0.35 points or 2.42% from its previous closing of Rs. 14.45 on the BSE.

The scrip opened at Rs. 14.55 and has touched a high and low of Rs. 15.15 and Rs. 14.55 respectively. So far 320289 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 30.75 on 22-May-2014 and a 52 week low of Rs. 13.00 on 17-Dec-2014.

Last one week high and low of the scrip stood at Rs. 15.50 and Rs. 14.00 respectively. The current market cap of the company is Rs. 715.44 crore.

The promoters holding in the company stood at 10.64% while Institutions and Non-Institutions held 18.78% and 70.57% respectively.

IVRCL has bagged two projects aggregating worth Rs 405.23 crore. The two domestic projects awarded to the company include an order of Rs 110.02 crore from Dream World Landmarks LLP (Godrej) for residential development for Godrej Prana, Pune and another order of Rs 295.11 crore from Orissa Water Supply and Sewerage Board (OWSSB) for execution of additional sewer construction in Bhubaneswar.

The first order of residential development for Godrej Prana at Undri, Pune was awarded by Dream World Landmarks LLP, involves constructing two towers viz. A & G of 12 floors & five towers viz. B, C, D, E, F of 14 floors along with 1 level of podium and basement parking for each. The construction work amounts to a built-up area of 9.67,926.5 sft, a tower area of 7.37,867.57 sft and a parking area of 2,30,058.97 sft in total. The scope of work includes earthwork, PCC, shuttering, reinforcement, RCC, masonry & plastering, tiling, painting works and provisional sum items.

The second project bagged by IVRCL, aiming at creating an integrated sanitation improvement in Bhubaneswar, involves constructing sewers for the district and is indeed, one of the single largest sewerage projects in India. The project strives to improve the water quality of surrounding rivers while improving sanitary conditions in Bhubaneswar in an area of about 57 sq.km. The project is envisioned taking into account the rising population of the area which is expected to rise from 2.9 lakh in 2011 to 7.42 lakh in 2041 showing more than two-fold increase in a span of 30 years.

The complete sewerage project of Bhubaneswar is divided into six Sewerage Districts and the Sewerage District-VI is covered under the JICA-assisted Odisha Integrated Sanitation Improvement Project. The work requires design and establishment of a full build-out sewerage network for about 150-km long sewer pipeline.

 

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