Welspun Enterprises surges on securing order worth Rs 1989.40 crore from BMC

Welspun Enterprises is currently trading at Rs. 559.00, up by 20.40 points or 3.79% from its previous closing of Rs. 538.60 on the BSE.

The scrip opened at Rs. 558.95 and has touched a high and low of Rs. 560.85 and Rs. 549.00 respectively. So far 10591 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 619.00 on 26-Aug-2024 and a 52 week low of Rs. 241.00 on 26-Oct-2023.

Last one week high and low of the scrip stood at Rs. 577.00 and Rs. 511.00 respectively. The current market cap of the company is Rs. 7704.80 crore.

The promoters holding in the company stood at 54.51%, while Institutions and Non-Institutions held 6.48% and 39.01% respectively.

Welspun Enterprises (WEL) has secured a significant Design and Build contract for the design and construction of Tertiary Treated Water Conveyance Tunnel from Dharavi Wastewater Treatment Facility (WWTF) to Ghatkopar WWTF, from the Brihanmumbai Municipal Corporation (BMC). The contract, valued at Rs 1989.40 crore (excluding GST), encompasses the design and construction of two very deep shafts at Ghatkopar WWTF and Dharavi WWTF, and an 8.48 km long reinforced in-situ concrete lined tunnel of 2.7 metre finished diameter. This tunnel is to be constructed using tunnel boring machine (TBM). The project is to be completed within a timeframe of 93 months.

The outstanding order book of the company as on June 30, 2024 was Rs 12,300 crore on standalone basis. With the addition of this order, the outstanding order book of the Company is around Rs 14,300 crore (less execution done in Q2FY25), of which around Rs 9,900 crore is from the water sector (including around Rs 4,400 crore from O&M & Asset replacement), around Rs 1,989 crore from newly added Tunnel segment and the balance around Rs 2,400 crore is from transportation sector (excluding around Rs 1,900 crore for a Road project bid, for which the Company is L1).

Additionally, the company’s subsidiary -- Welspun Michigan Engineers has also been awarded a project on October 07, 2024, valued at around Rs. 24.60 crore, for wastewater treatment in the State of Maharashtra. With the new order inflows, the consolidated order book is around Rs 15,800 crore (less execution done in Q2 FY25).

Welspun Enterprises (WEL) (Formerly known as Welspun Projects), part of the Welspun Group, is an operating Company as well as a holding company. The Company’s key activity is in the infrastructure business.