SPML Infra goes up 20%

SPML Infra is in the limelight –it touched the 20% UC in the morning at Rs.37.05 and is now quoted over 15% up at Rs.36 levels.

The company has received four new orders for water supply and irrigation projects with combined cost of over Rs.883 crore from Gujarat, Manipur and Punjab.

The first and the largest single order received so far by SPML Infra Limited is worth Rs.724 crore for the Phase 3 of Saurashtra-Narmada Avtaran Irrigation (SAUNI Yojana), an ambitious project initiated by the Govt. of Gujarat.

The second order received in JV with Shristi Infrastructure Development is worth Rs.104 crore for construction of Water Distribution Network and 24x7 Domestic Water Supply along with Sewerage Management System and Storm Water Drainage Network for Ludhiana Smart City with 5 years of O&M.

The two orders of Rs.33 crore and Rs.22 crore has been received for augmentation of Water Supply System in Senapati and Churachandpur districts in Manipur with the idea of promoting tourism under the North East Special Infrastructure Development Scheme (NESIDS).

The company has stated, “The financials from these new orders should start reflecting in our books from the first quarter of FY 20 and it will strengthen our growth and improve profitability.”

SPML Infra is engaged in water management services, executing and managing several civil projects on EPC format and is also in the power sector, executing and manging power generation, transmission and distribution.