BL Kashyap Shares Soar 9% on Securing Rs 300 Crore Order 

Shares of BL Kashyap and Sons Ltd soared 9% on 19 February after the company announced securing an order worth Rs 300 crore from CRC Greens. 

In a stock exchange filing on Wednesday, the company announced that it has secured an order worth Rs 300 crore (excluding GST) from CRC Greens Private Limited. The contract involves the construction and supervision of civil structural works for a group housing project in Greater Noida, Uttar Pradesh.

The company will execute the project over a period of 42 months. It stated that it received and accepted the Letter of Intent (LOI) on 17 February at 4:30 pm.

The development increases the company’s order book and enhances its position in the residential building market.

In December, the company secured a Rs 364.07 crore order from ESNP Property Builders and Developers to execute civil and structural works for the commercial project “Embassy Splendid Tech Zone – Block” in Pallavaram, Chennai.

Earlier, it had won a Rs 615.69 crore contract from Sattva CKC Pvt Ltd for structural and civil works at the commercial project “Sattva Chennai Knowledge City” in Chennai, Tamil Nadu. The company will complete this domestic project within 31 months.

It clarified that the order does not qualify as a related-party transaction and that its promoters have no interest in the entity that awarded the contract.

At 2:48 pm, the shares of BL Kashyap were trading 1.82% higher at Rs 50.98 on NSE.

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