Valecha Engineering secures Road Projects and starts its ground engineering operations in Middle East

Valecha Engineering Ltd has announced that the Company has recently bagged new projects worth Rs 100 crores which include road works at New Delhi, Punjab, & Arunchal Pradesh and Diaphragm Wall works for Delhi Metro Rail Corporation Ltd. This takes its order book position close to 1000 crores mark. Most of the order book is executable in 18 to 24 months which will ensure sustainable growth at higher than industry avenges over next couple of years. The top line includes on shore and offshore turnover which is targeted to reach Rs 450 crores.

The Company has an organization structure in place with professional management and latest state-of-art machinery with a constant up gradation as a corporate philosophy. The Company is well positioned for rapid growth with the infrastructure being given the necessary attention in the economy since the recent past.

The Company from being pan India presence in major infrastructure projects has embarked in the middle east in the name of 'Valecha-Gulf'. The Company has acquired plant and machinery and resources worth USD 5 million for its middle east projects and has Rs 100 crores for the works on hand of ground engineering and Villa projects. The key projects are:

1. Palms Jumera Projects Island.
2. Foundation for sky scraper Towers.

The stock was trading at Rs.231.10, down by Re.0.60 or 0.26%. The stock hit an intraday high of Rs.238.90 and low of Rs.227.35. The total traded quantity was 84137 compared to 2 week average of 30237.

Source : Equity Bulls

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