Kalpataru Projects shares gain after ₹719 crore order win for Thane Metro

Shares of Kalpataru Projects International Ltd. gained on Thursday, January 1, after it won new orders worth ₹719 crore.

The company said its it has won the orders along with its joint venture for the contract of the elevated metro rail project in Thane.

"The elevated metro rail order in Thane has strengthened our presence in the growing urban transportation EPC business, reinforcing our confidence in the growth optional of our Urban Infra business in India," Manish Mohnot, the company's MD and CEO, said.

Kalpataru's share in the JV has not been disclosed.

Mohnot added that the company's strong order intake, diversified order book and robust execution places it favourably to deliver on its growth targets in the coming quarters.

Last month, the company said it remains focused on growth in the transmission and distribution (T&D) sector even as it navigates delays in payments related to the Jal Jeevan Mission. Projects linked to the mission account for around 10% of the firm's total order book, with receivables above 1,000 crore.

The company's director Amit Uplenchwar told CNBC-TV18 that the firm's diverse business mix will help manage the current challenges.

Shares of Kalpataru Projects are trading 1% higher after the order in on Friday at ₹1,213. The stock is down 8% in the last 12 months.

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