Ahluwalia Contracts (India) Ltd Secures Rs. 364 Crore Project

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Ahluwalia Contracts (India) Ltd Secures Rs. 364 Crore Project

Team FS

15/Mar/2024

Key Points:

Ahluwalia Contracts (India) Limited announces securing a significant project worth Rs. 364.00 Crores.
The project involves the construction of an Open Stadium at Amingaon Sports Complex, Kamrup, Assam, awarded by the Government of Assam.
With a completion timeline of 24 months, this domestic contract adds to the company's order inflow, which stands at Rs. 6536.81 Crores for FY 2023-24.

Ahluwalia Contracts (India) Limited, a prominent player in engineering, designing, and construction, has recently disclosed a notable achievement. In a communication addressed to the Compliance Departments of BSE Limited, National Stock Exchange of India Ltd., and Calcutta Stock Exchange Ltd., the company has shared details of its latest project win under Clause 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The project, valued at Rs. 364.00 Crores, entails the construction of an Open Stadium at Amingaon Sports Complex, situated in Kamrup, Assam. This substantial contract comes from the Government of Assam, specifically the Chief Engineer, PWD Building, affirming Ahluwalia Contracts' prowess in securing significant government infrastructure projects.

Outlined briefly are the essential terms and conditions of the contract: a domestic project with a stipulated execution period of 24 months. Notably, the company has emphasized that there are no direct interests of the promoter, promoter group, or group companies in the entity that awarded the contract. Additionally, the transaction does not fall within the purview of related party transactions, ensuring transparency and adherence to regulatory norms.

This latest win adds to Ahluwalia Contracts' robust order book, with the cumulative order inflow for the current fiscal year 2023-24 standing impressively at Rs. 6536.81 Crores. Such substantial project wins not only bolster the company's financial performance but also underline its capabilities and credibility in the competitive construction sector.

The announcement underscores the company's commitment to timely disclosure and adherence to regulatory frameworks, ensuring transparency and accountability to stakeholders. As Ahluwalia Contracts embarks on executing this prestigious project, stakeholders can anticipate significant contributions to the infrastructure landscape of Assam, further solidifying the company's position as a trusted partner in nation-building initiatives.

In conclusion, Ahluwalia Contracts' successful bid for the construction of the Open Stadium at Amingaon Sports Complex reflects its strategic focus on securing high-value projects and contributing to the development narrative of the regions it operates in. This announcement is not only a testament to the company's capabilities but also a harbinger of future growth opportunities and value creation for its stakeholders.

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Ahluwalia Contracts (India) Ltd Secures Rs. 364 Crore Project

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