IL&FS Engineering touches the roof on securing two construction projects worth Rs 494 crore

22 Aug 2012

IL&FS Engineering and Construction Company is currently locked at its upper circuit limit of Rs. 62.20, up by 10.35 points or 19.96% from its previous closing of Rs. 51.85 on the BSE.

The scrip opened at Rs. 54.00 and has touched a high and low of Rs. 62.20 and Rs. 53.00 respectively. So far 81,648 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 113.30 on 12-Sep-2011 and a 52 week low of Rs. 48.20 on 21-Aug-2012.

Last one week high and low of the scrip stood at Rs. 62.20 and Rs. 48.20 respectively. The current market cap of the company is Rs. 481.00 crore.

The promoters holding in the company stood at 34.56% while Institutions and Non-Institutions held 4.08% and 61.35% respectively.

IL&FS Engineering and Construction Company has secured two projects worth Rs 494 crore in Gurgaon and Noida. The company has secured its first project from Emaaar-MCG for a total value of Rs 336.01 crore for construction of Palm Garden Housing Complex at Sector-83, NH-8, Gurgaon. The project involves civil structure, finishing, UPVC doors & windows & low side services work of residential towers (single basement+ 13 to 16 storey building) nursery & primary school, shopping centre, EWS, swimming pool, club, boundary wall, entrance gate and facade finishing. The project has to be completed within 36 months.

The company’s second order is worth Rs 158 crore from Unitech Hi-Tech Projects for construction of IT- SEZ in 25 acre pocket in Sector-144 Noida in Uttar Pradesh. The project involves construction of one million sq ft of multi-storeyed commercial space including basement and MLCP. The project has to be completed within 18 months.

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