Kridhan Infra arm wins order worth Rs. 195 crore
Kridhan Infra Limited's Singapore-based subsidiary Swee Hong Limited (SHL) has successfully won an order for construction of Link Sewers for the DTSS Phase 2 Project from the Public Utilities Board, Singapore. The project is worth Rs. 195 crore (SG$37.2 million).
KIL acquired a majority stake in Swee Hong Limited in 2016. SHL is a leading EPC company in Singapore. Under KIL's leadership, the company has attained a successful business and financial turnaround. SHL has been able to fast track its legacy projects, which are near completion and is successfully bidding for new contracts to build a robust order book.
Established in 2006 with headquarters in Mumbai, Kridhan Infra is one of the pioneers in introducing the concept of ready-to-use steel for the construction industry in India. Within a short span of time, KIL expanded its business to Singapore, Myanmar, Malaysia, and other South East Asian countries. The company acquired KH Foges in 2012, the then ninth largest foundation engineering company in Singapore.
On Tuesday, the stock of Kridhan Infra Limited opened Rs. 48.25 per share and at 9:45 hours, the stock was quoting Rs. 51.90, up by 12.46 per cent on BSE.