Sadbhav Engineering: Winning bidder
Shares of Sadbhav Engineering jumped nearly 11% on BSE after it was declared the lowest bidder by Gujarat Metro Rail Corporation (GMRC) for a project.
The project is for the construction of 11.6 km elevated viaduct from Kadarsha Ni Nal to Dream City dead-end including ramp for depot entry near Dream City and 10 Stations for Surat Metro Rail Project.
The project is awarded in the name of SEL-SPSCPL – a 74:26% joint venture between Sadbhav Engineering and SP Singla Constructions.
Sadbhav Engineering is engaged in the business of development of infrastructure facilities in areas of canals, irrigation projects, roads, bridges, etc., has been declared as the lowest bidder by GMRC for the Metro Rail projects which cost is around about Rs 780 crore and the award is expected to receive soon from Gujarat Metro Rail Corporation.
As of 2QFY21, Sadbhav Engineering has an order book Is around Rs 9,397 crore which provides revenue visibility about 2.7 times of FY20 revenue.
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