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By EquityPandit

MARKETS

RPP Infra Shares Hit 5% Lower Circuit Despite Securing New Order 

It has a contract value of Rs 87.56 crore and is anticipated to be completed in 18 months.

Shares of RPP Infra Projects Ltd hit a 5% lower circuit on Monday, 27 January, despite the company announcing receiving a letter of consent from Greater Chennai Corporation for a new project.

The project is to build integrated stormwater drain works in M1 & M2 components in the Kovalam basin in expanded regions, including various streets in Zone 15. It has a contract value of Rs 87.56 crore and is anticipated to be completed in 18 months.

On 22 January, the company received a letter of approval from the senior manager of BHEL—CPC, Noida, for a new project. The project involves building, testing, and commissioning the Air air-cooled condenser (ACC) and associated auxiliaries of Unit 2 at 3×800 MW PVUNL STPP Patratu, Jharkhand, for a total contract value of Rs 28.77 crore.

Earlier on 4 December, the company secured an order from Bhabha Atomic Research Centre, Nuclear Recycle Board worth Rs 21.83 crore for constructing service supporting structures, sewer lines, RCC culverts, and associated works at the FRFCF project site at Kalpakkam, Tamil Nadu. 

As of Q2 FY25, RPP Infra Projects’ order book includes 54 projects valued at Rs 6,088.78 crore. Out of this, Rs 2,626.01 crore worth of work has been completed and billed, leaving Rs 3,399.80 crore of projects yet to be executed.

With a strong order backlog of Rs 3,399.8 crore and the addition of Rs 1,568.23 crore worth of projects in the first seven months of FY25, the company remains confident in its journey toward becoming a global leader in the construction industry.

At 12:37 pm, the shares of RPP Infra were trading 2.95% lower at Rs 166.40 on NSE.

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