On 31st August, GPT Infraprojects announced it was declared the lowest bidder for a Rs 204 crore order from South Eastern Railway Kolkata.

The company will construct a three-lane road overbridge with bridge approaches between Andul Sankrail station and a two-lane road overbridge with bridge approaches between Nalpur-Bauria stations on the Howrah-Kharagpur section.

This order was awarded by the CAO Construction, South Eastern Railway Kolkata.

A day earlier, the company’s Executive Director and CFO, Atul Tantia, had mentioned that the Rs 175 crore raised through the QIP would reduce the company’s debt from Rs 190 crore to Rs 50 crore, saving Rs 15 crore annually in interest, according to sources.

Tantia also shared that the company aims to make the promoter holding pledge-free by FY26, with part of the pledge expected to be released by the end of FY25 and full release by FY26.

The company’s consolidated net profit rose by 12.6% to Rs 17.54 crore in Q1 FY25, with a 0.8% increase in revenue from operations to Rs 236.22 crore compared to Q1 FY24.

The stock has gained 112.15% so far this year. The company’s market capitalisation fell to Rs 2,052 crore.

GPT Infraprojects shares fell 1.47% to close at Rs 177.10 on 30th August 2024.

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