RPP Infra Projects soars over 5 per cent on winning new project orders
RPP Infra Projects announced that it has received a new project order from the Highways Department for Chennai Kanyakumari Industrial Corridor (CKIC) project worth Rs 231.77 crore.
The order is bagged by the joint venture, RPK-RK, where RPP Infra holds 60 per cent of the shares while its joint venture partner RK Infracorp Pvt Ltd holds the remaining 40 per cent. The project is estimated to be completed within a period of 24 months. As mentioned, the work would be carried out by RPP Infra Projects Limited after the completion of the formalities.
With the addition of this order, the order book of the company now stands at Rs 2,000 crore. These orders would help the company to improve its financials.
The company is in the construction business, primarily engaged in the business of infrastructure development such as highways, roads, and bridges. It has diversified civil work expertise in SEZ development, water management projects, and irrigation & power projects.
On Tuesday at 11.45 am, the shares of the company were trading at Rs 69.30 on NSE, up by almost 3 per cent over its Monday’s close.