Gayatri Projects jumps 5% on Rs 145 crore order win

NEW DELHI: Shares of Gayatri Projects climbed 5 per cent in Tuesday's trade after the company bagged a Rs 145.53 crore project for water supply in Uttar Pradesh.

In a filing to BSE, the company said that it has received the letter of award on June 6. It received the letter of award from State Water Sanitation Mission (SWSM), Namami Gange & Rural Water Supply Department, Lukhnow, Uttar Pradesh.

The order includes the construction of Lagaon Group of Villages Water Supply Scheme in Lalitpur district for Rs 127.92 crore. It will include other relevant works including commissioning. Besides, the company will maintain and operate the water supply for 10 years.

The stock jumped 5 per cent to hit its upper circuit at Rs 17.15. The scrip has fallen 78 per cent year-to-date, but was up 15 per cent in the last one week.

The company is yet to report its March quarter results.

The highways developer reported consolidated net loss of Rs 3.68 crore for the quarter ended December 31, 2019.

Consolidated income of the company dropped to Rs 847.18 crore in the October-December period, over Rs 882.64 crore a year ago.