GHV Infra Projects Wins Deal In UAE Worth Rs 2,645 Crore; Order Value More Than Market Cap

GHV Infra Projects Ltd. received an order worth Rs 2,645 from a UAE-based company registered in Ras Al Khaimah Economic Zone. The order has been given via a Letter of Award.

The company will be responsible for the Engineering, Procurement, and Construction (EPC) development of the Erisha Smart Manufacturing Hub, according to an exchange filing on Saturday.

"The project is valued at approximately Rs 2,645 crore and estimated to be completed within 24 months, excluding 90 days of initial setup and mobilization period," the filing said. In dirham terms, the project is valued at AED 1.1 billion.

Notably, the deal value is more than GHV Infra Projects' current market cap of Rs 2,233 crore as of Aug.1 on the BSE.

GHV Infra Projects (formerly known as Sindu Valley Technologies Ltd.) was originally incorporated in March 1976.

The company is involved in developing diversified businesses of executing projects related to transport infrastructure, energy and environmental projects, social and commercial complex, office buildings and industrial projects such as steel, power, refinery, petrochemicals, factories etc.

Shares of GHV Infra Projects closed 2% higher at Rs 1,549.2 on the BSE on Friday, compared to a 0.7% decline in the benchmark Sensex.