Shares of Ahluwalia Contracts (India) Ltd. rallied 6%, reaching a day’s high of Rs 1,280.50 on 10th September, after the company announced securing a Rs 1,144 crore order from Signature Global Business Park for a group housing project.

The project is being designed by international architects AEDAS, with landscape by Sanju Bose, executive architecture by DFI, structural consultancy by Mahimtura, and MEP consultancy by Sanelac.

It is IGBC Gold-rated and will feature two clubhouses covering 80,000 sq. ft., seven swimming pools, podium parking, VRV air conditioning, and four apartments per core.

Signature Global has already delivered 11 million square feet across various projects, with an additional 32.2 million square feet of saleable area in upcoming projects and 16.4 million square feet in ongoing projects.

In the June quarter, the firm saw a 20.4% year-over-year increase in revenue from operations, reaching Rs 920 crore, due to faster project execution from a strong order backlog.

However, PAT (profit after tax) dropped 38.5% YoY to Rs 30 crore, due to weaker operating performance and higher interest expenses.

The company’s market capitalisation rose to Rs 8,291 crore. So far in 2024, the stock has rallied nearly by 58%.

At 11:11 AM, the shares of Ahluwalia Contracts were trading 3.51% higher at Rs 1,238 on NSE.

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