Shares of Kalpataru Projects International Ltd are trading flat after touching a day’s high of Rs 1,227.20 on 1st January, despite the company announcing that it had won new orders worth Rs 719 crore.

The company said it has won the order along with its joint venture for an elevated metro rail project in Thane. Managing Director and CEO Manish Mohnot said the project strengthens Kalpataru’s presence in the urban transportation EPC space. Additionally, it boosts confidence in the growth potential of its urban infrastructure business in India. The company has not disclosed its share in the joint venture.

Mohnot added that a strong order inflow, a diversified order book, and steady execution position the company well to meet its growth targets. This applies to the coming quarters. Last month, Kalpataru said it remains focused on expanding its transmission and distribution business. This focus persists even as it faces payment delays under the Jal Jeevan Mission. Projects linked to the mission make up about 10% of the total order book. Receivables from these projects exceed Rs 1,000 crore. The company also said its diversified business mix will help it manage near-term challenges.

At 11:21 AM, shares of Kalpataru Projects were trading 0.83% lower at Rs 1,192.40 on NSE.

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