Rs 21,939 Crore Order Book: Infrastructure Company Bags New Order of Rs 458,14,42,765.23 From North Eastern Electric Power Corporation Ltd
The stock gave multibagger returns of 270 per cent in just 3 years whereas the BSE Sensex Index is up by 42 per cent.
IRCON International Limited has secured a domestic "Package-I" contract from the North Eastern Electric Power Corporation Limited for the construction of civil works on an item rate basis for the Tato-I Hydro Electric Project in Arunachal Pradesh. This significant project, valued at Rs 458,14,42,765.23 (including all applicable taxes and duties), encompasses the construction of the headworks and allied works, head race channel, head race pipe, intake, headrace tunnel, surge shaft, pressure shaft, valve house, powerhouse, allied works, and necessary infrastructure works. The stipulated time period for the execution of this comprehensive project is 45 months.
Earlier, the company received a variation order from Northeast Frontier Railway, increasing the value of an existing contract for the Supply, Installation, Testing, and Commissioning of Integrated Tunnel Communication Systems and OFC-based industrial-grade network systems for the Jiribam-Khongsang section of the Jiribam-Imphal new Railway Project. Awarded by Dy. CSTE (Con) Silchar, the variation order, dated February 20, 2024, raises the contract value from Rs 144,16,66,955.90 to Rs 203,60,80,858.313, representing an increase of Rs 9,44,13,902.41. This domestic works contract is now slated for completion by June 30, 2025.
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About the Company
Ircon International is a leading Indian infrastructure company specialising in railways and highways. Founded in 1976, it has executed over 400 domestic and 128 international projects. Offering engineering, procurement, construction, and project management services, Ircon is involved in both public and private sector projects.
Order Book Update: The total order book as of December 31, 2024, stands at Rs 21,939 crore.
The break-up of is as follows:
- Railways – Rs 17,075 crore
- Highways – Rs 4,775 crore and
- Others – Rs 89 crore.
IRCON is a PSU company with a market cap of over Rs 14,000 crore and reported positive numbers in its Quarterly Results (Q3FY25) and half-yearly results (9MFY25). The stock gave multibagger returns of 270 per cent in just 3 years whereas the BSE Sensex Index is up by 42 per cent. Investors should keep an eye on this railway construction company’s stock.
Disclaimer: The article is for informational purposes only and not investment advice.