Shares of GPT Infraprojects shot up 8% on 2 September after the company was declared the lowest bidder (L1) for a Rs 483.7 crore project from Rail Vikas Nigam Ltd (RVNL). 

The development comes after the stock had declined for five consecutive sessions, making the order win a potential positive trigger for investors. The contract value includes GST, with the pre-tax value standing at Rs 410 crore.

The project involves the construction of Important Bridge No. 544 over the Mahanadi River in Odisha. The bridge will feature 32 spans, each measuring 65.84 metres, and will use open-web steel girders. 

The work forms part of the construction of the third and fourth railway lines between the Nergundi and Barang sections under the Khurda Road Division of East Coast Railway.

The order strengthens GPT Infraprojects’ exposure to India’s expanding railway infrastructure segment. The company has a strong presence in railway-focused civil infrastructure, including bridges and other engineering projects. The latest order also adds to its unexecuted order book and provides greater revenue visibility over the medium term.

The contract comes shortly after the company’s wholly owned subsidiary, Alcon Builders and Engineers, was declared L1 for a separate order worth Rs 97.31 crore. Earlier in August, the subsidiary had also emerged as the lowest bidder for another Rs 72.5 crore order, highlighting continued order inflows for the group.

The latest project is part of the broader railway capacity expansion taking place across India. The addition of third and fourth lines is aimed at improving railway capacity and supporting the movement of both passenger and freight traffic. Large infrastructure spending by Indian Railways and RVNL has created opportunities for specialised construction companies.

At 12:56 pm, the shares of GPT Infraprojects were trading 2.12% higher at Rs 110 on NSE.

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