Nagarjuna bags orders worth Rs583 crore

Nagarjuna Construction recorded substantial gains after bagging five orders aggregating Rs583 crore. The company's shares opened at Rs156 and recorded a high of Rs159 on the BSE.

Among the orders the construction major bagged are: a Rs238-crore order for surface water-based piped water supply scheme from the public health engineering department, Kolkata; a Rs124-crore order for drilling and excavation work from the Orissa-based Mahanadi Coal Fields and a Rs85-crore order from the National Water Supply and Drainage Board, Sri Lanka, for construction of Mahara and Blygama schemes.

Additionally, the company won a contract from Slum Rehabilitation Authority, Nagpur, for construction of tenements valued at Rs58 crore. The fifth order is a Rs58 crore contract from the Bangalore-based SPL Relators for the Shriram Surabhi project at Mallasandra, Nagarjuna Construction said in a filing with the BSE on Monday.

The infrastructure development company is based in Hyderabad.

The company has revised its FY10 order inflow guidance from Rs6,300 crore for FY10 to Rs7,500-8,000 crore and some analysts have consequently revised their FY12 sales up by 3.1 per cent and earnings by 4.8 per cent.

They also expect the company to potentially win Rs1,200-1,800 crore of new road projects.