Vimal Kejriwal, MD & CEO commented, “Our YTD order intake has now surpassed Rs 7,500 crore, a robust growth of 30% YoY. With this order, Saudi Arabia continues to be a major growth driver in the Middle East region. This strategic project holds immense significance for both NEOM and Saudi Arabia, as it plays a pivotal role in developing the power infrastructure required for the development of NEOM – a visionary city in Saudi Arabia.”

Meanwhile, KEC International also announced that it has secured new orders worth Rs 1,012 crore across its various businesses.

KEC International executes power transmission and distribution, railways, civil and solar projects on an EPC basis. It also manufactures power and telecom cables. KEC is one of the largest power transmission EPC companies in the world with presence in over 70 countries and a strong presence in India, the Middle East, Africa, South Asia the Americas and Central Asia.

The company's consolidated net profit jumped 36.5% to Rs 42.33 crore on 27.9% increase in net sales to Rs 4,243.59 crore in Q1 FY24 over Q1 FY23.

The scrip hit a life-time high at Rs 739 in intraday today on the BSE.