Gammon India gets Rs 400 crore order

Gammon India Ltd. | Engineering - Construction | Construction & Infrastructure | BSE: 509550 | NSE: GAMMONIND

26 Mar 2009 Evaluate

Asian Development Bank has indicated that US$ 59.986 million order for construction of CP 2 SH 69 Dumaria-Ranitalab Road in Bihar has been awarded to Gammon India in January 2009. This is part of Bihar State Highways project which is being funded by Asian Development Bank.

In addition, it also got another US$ 20.188 million order for construction of CP 3 SH 70 Gaya-Rajauli Road, also in Bihar. Together, these two orders amounts to US$ 80.17 million, which at Rs 50 per dollar, amounts to Rs 400 crore.

Gammon India reported 5% rise in net profit to Rs 67.8 crore on 15% rise in net sales to Rs 1752.0 crore. The results were aided & would have been worse but for sharp 1234% spike in other income to Rs 50.8 crore in the nine months ended December 2008, which included profit on sale of shares of Rs 38.6 crore. crack crack

Peers

Company Name	CMP
Larsen & Toubro	3879.00
Kalpataru Projects	1391.05
NCC	132.85
Rail Vikas Nigam	206.80
KEC International	396.95
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