Sadbhav Engineering inches up as its JV bags contract worth Rs 245.61 crore

19 Mar 2013

Sadbhav Engineering is currently trading at Rs. 114.95, up by 0.90 points or 0.79% from its previous closing of Rs. 114.05 on the BSE.

The scrip opened at Rs. 115.10 and has touched a high and low of Rs. 118.00 and Rs. 112.25 respectively. So far 3,085 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 161.00 on 30-Mar-2012 and a 52 week low of Rs. 103.05 on 04-Mar-2013.

Last one week high and low of the scrip stood at Rs. 119.80 and Rs. 111.00 respectively. The current market cap of the company is Rs. 1,735 crore.

The promoters holding in the company stood at 47.26% while Institutions and Non-Institutions held 42.72% and 10.02% respectively.

Sadbhav Engineering’s joint venture has bagged a contract from The Executive Engineer, Narmada Development Halon Division, Bichhiya Dist. Mandla in the name of joint venture known as 'Sadbhav Engineering - Vaishnovi Construction Joint Venture' for aggregating contract value of Rs 245.61 crore. The company will lead the joint venture with 72 percent participation share.

The scope of contract includes execution of Halon Irrigation Project complete on turnkey basis, including construction of earthen dam, central spillway, non-over flow portion (composite  dam) instrumentation, drilling and grouting, control room, radial gate and stop log with all hoisting arrangements, along with remote control system, trunnion bridge, gantry crane, consolidation/curtain grouting, fish ladder, D/S bridge and any other related miscellaneous works like HT/LT electric line arrangement for operation and construction, construction of residential building, non-residential building at Dam site with water supply, sanitation and electrification, shifting of HT/LT electric lines, including commissioning of entire system, operation and maintenance of complete commissioned system for three years.

Sadbhav Engineering (SEL) is one of the largest BOT developers in the road sector in India with good project execution skills. SEL operates in the four distinct business areas in the infrastructure sector viz. BOT road projects, cash contract-based road projects, irrigation projects and mining.

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