Hot Pursuit     26-Sep-23
Vishnu Prakash jumps on bagging LoA for Rs 634 cr
Vishnu Prakash R Punglia rallied 5.53% to Rs 186.20 after the company received letter of award (LoA) from Madhya Pradesh Jal Nigam (MPJN), Government of Madhya Pradesh for construction at Chillar Dam in Shajapur district, Madhya Pradesh.
The project includes engineering, procurement, construction, testing, commissioning, trial run and operation & maintenance for 10 years of Chillar Dam multi-village drinking water supply scheme, Shajapur in single package on ‘Turn-key Job Basis'. The cost of said project is Rs 634.41 crore.

Shares of Vishnu Prakash R Punglia debuted on the bourses on 5 September 2023. The scrip was listed at Rs 163.30, representing an 64.95% premium to the issue price of Rs 99.

Vishnu Prakash R Punglia is an integrated engineering, procurement and construction (EPC) company with experience in design and construction of various infrastructure projects for the Central and state government, autonomous bodies, and private bodies across nine states and one Union territory in India.

The company's standalone net profit jumped 52.5% to Rs 16.44 crore on 49.4% increase in net sales to Rs 278.17 crore in Q1 FY24 over Q1FY23.

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