Kalpataru Projects Receives New Orders Worth Rs 2,174 Crore

Kalpataru Projects International Ltd., on Friday, announced that the company, along with its international subsidiaries, has secured new orders worth Rs 2,174 crore. The company has received orders for the design and construction of an elevated metro rail project and a residential building project in India, according to an exchange filing.

The company has also received orders in the transmission and distribution business in India and overseas markets.

"We are happy with the continuous momentum in order inflows, especially in our T&D and B&F business. The orders in the T&D business have further strengthened our order book in India and international markets, reflecting robust demand for T&D projects globally," said Manish Mohnot, MD & CEO, KPIL.

"With these orders, our YTD order inflow stands over Rs 16,300 crore; more importantly, nearly 85% of order intake to date is from our T&D and B&F business," said Mohnot.

Earlier, on Nov. 13, the company, along with its international subsidiaries, secured new orders worth Rs 2,174 crore. The company has bagged an order for the design & construction of an elevated metro rail project in India.

The company's consolidated net profit rose to Rs 126 crore in the July-September quarter, compared to Rs 89.9 crore for the same period last year, according to an exchange filing. The company's revenue grew 9.1% to Rs 4,930 crore from Rs 4,518 crore in the second quarter of the previous fiscal.

Shares of Kalpataru Projects International closed 1.77% higher at Rs 1,271.25 apiece, compared to a 0.12% decline at the benchmark NSE Nifty 50. It has risen 80.86% in the last 12 months and 79.25% on a year-to-date basis.

Fourteen out of the 16 analysts tracking the company have a 'buy' rating on the stock, and two recommend a 'hold,' according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 14.1%.