A2Z Infra Engineering prepares to settle its debt
DSIJ Intelligence / 23 Nov 2016
A2Z Infra Engineering which closed 12 per cent higher on November 22 will continue with its gaining streak on November 23 as well.
A2Z Infra Engineering which closed 12 per cent higher on November 22 will continue with its gaining streak on November 23 as well. It has informed BSE that the company's subsidiary A2Z Green Waste Management Limited (previously known as A2Z Infrastructure Ltd.) ("A2Z Green"), has agreed to a framework with one of its lenders for a settlement of its various debt obligations.
Recently, A2Z Infra Engineering was awarded a contract for construction of 132 KV S/S at Bijapur and associated EHV Line on turnkey basis by Chhattisgarh State Power Transmission Company on November 18, 2016. The aggregate value of the contract is Rs 41.34 crore. The company also has won an order from Jharkhand Urja Sancharan Nigam (JUSNL) for design, engineering, supply, erection, testing and commissioning on turnkey basis of deposit work of SAIL. The total contract is worth Rs 96 crore.
On the financial front, A2Z Infra Engineering’s topline has more than doubled to Rs 203 crore in Q2FY17, as compared to the same period in the previous fiscal. Its net loss has almost halved down to Rs 18.75 crore in Q2FY17 as compared to the net loss of Rs 35.93 crore in Q2FY16.
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