IVRCL bags orders worth Rs 652.65 cr
16 May 2012 6:34 AM GMT
Leading infrastructure firm IVRCL Ltd on Tuesday said it has bagged orders worth Rs 652.65 crore from the Andhra Pradesh government and various firms. The companies that have placed orders include NBCC, Power Grid Corporation and ONGC Petro Additions Ltd (OPAL).
The company’s irrigation division received Rs 512.83 crore orders from Andhra Pradesh government and Sardar Sarovar Narmada Nigam Ltd for different projects, IVRCL said in a statement.
Besides, the buildings division got orders worth Rs 103.82 crore from Power Grid Corporation, National Building Construction Corporation (NBCC) and Inkel Ltd for different projects, it added. The Hyderabadbased firm also secured Rs 36 order from OPAL for civil, structural and piling work at its upcoming complex at Dahej, Gujarat.
With these orders, company’s total order book stands at Rs 28,446.65 crore. In March-April, media baron Subhash Chandra-led Essel Group had acquired 12.27 per cent stake in the company, triggering the speculations of a possible takeover of the infrastructure firm. However, the Essel group later clarified that it has dropped its takeover plans for the moment and would watch company management’s moves critically before moving any further.
Yesterday, the infrastructure firm had reported an 84.75 per cent decline in its standalone un-audited net profit to Rs 24.08 crore for the full year 2011-12. Its net sales were also down by over 12 per cent to Rs 4,970.89 crore in FY12.
The company’s irrigation division received Rs 512.83 crore orders from Andhra Pradesh government and Sardar Sarovar Narmada Nigam Ltd for different projects, IVRCL said in a statement.
Besides, the buildings division got orders worth Rs 103.82 crore from Power Grid Corporation, National Building Construction Corporation (NBCC) and Inkel Ltd for different projects, it added. The Hyderabadbased firm also secured Rs 36 order from OPAL for civil, structural and piling work at its upcoming complex at Dahej, Gujarat.
With these orders, company’s total order book stands at Rs 28,446.65 crore. In March-April, media baron Subhash Chandra-led Essel Group had acquired 12.27 per cent stake in the company, triggering the speculations of a possible takeover of the infrastructure firm. However, the Essel group later clarified that it has dropped its takeover plans for the moment and would watch company management’s moves critically before moving any further.
Yesterday, the infrastructure firm had reported an 84.75 per cent decline in its standalone un-audited net profit to Rs 24.08 crore for the full year 2011-12. Its net sales were also down by over 12 per cent to Rs 4,970.89 crore in FY12.
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