Shares of Bondada Engineering Ltd hit a 5% upper circuit and a 52-week high of Rs 2,320.80 on 13 June after the company received a Letter of Award (LoA) from NLC India. 

A work order for balance of system (BOS) work was granted to Bondada Engineering by NLC India with the goal of creating a 600 megawatt (MW) Grid Connected Solar Power Project. This work order also comprised SCOD, as well as operations and maintenance (O&M) in Khavda, Gujarat, for a period of three years. 

The contract is worth Rs 939,39,76,731 (including GST) and will be completed in 15 months following the LoA date.

Earlier in February, NLC India awarded Bondada Engineering a work order for the Balance of System (BOS) work on a solar power project with a solar output of 81,34,02,405 (Including GST) for three years of O&M.

In its quarterly earnings for January-March, the company’s net profit doubled to Rs 31.44 crore from Rs 14.87 crore reported in the same quarter last year. The revenue from operations of the company grew 70.8% year-on-year to Rs 505 crore during Q4FY24. 

As of January 024, the company’s order book stands at Rs 1,600 crore, which is in progress and will be executed in the next 12 to 24 months. 

The company is an infrastructure firm that specialises in EPIC services along with O&M solutions. 

1:02 pm, the shares of Bondada Engineering were locked 5% higher at Rs 2,320.80 on BSE.