Power Mech Projects bags orders worth Rs. 1,385.49 crore
Power Mech Projects bagged orders worth Rs. 1385.49 crore from the Government of Andhra Pradesh, the company announced on Monday.
The company has received these orders under the government's ‘Sarva Siksha Abhiyan’. The orders comprise of providing necessary infrastructure facilities like furniture, additional class rooms including library rooms and electrical facilities in all the government schools in five districts. The said orders are likely to be completed within 24 months.
During FY18, the total order inflow stood at Rs. 2,106 crore and order backlog as on May 2018, stood at Rs. 5,328 crore. Its FY18 order mix comprises of Erection (46 per cent), Civil & Others (29 per cent), Industrial services (18 per cent) and Electricals (7 per cent).
Power Mech Projects Limited is an engineering and construction company providing services in power and infrastructure industries.
With this announcement, the stock on Monday jumped by 3.8 per cent and made an intraday high of Rs. 1,005 per share on the BSE.