Sunil Hitech wins 434 crore EPC project, locked in upper circuit

Sunil Hitech Engineers Ltd (SHEL) has been awarded a road engineering, procurement and construction (EPC) project worth Rs 434 crore in Arunachal Pradesh. The details were disclosed in a press release by the company on 27 December evening. The project involves the two-laning of existing Hunli-Anini Road on EPC basis from the designed 53.5 km to 92.5 km (existing 56.32 km to 97.65 km) in Arunachal Pradesh under SARDP-NE. This project is a joint venture (JV) with PCL-Eagle Infra India Ltd.
 
The stock, which had closed at Rs 11.81 on the BSE after yesterday’s trading session, opened 5 per cent up today at Rs 12.40 and is currently locked in upper circuit at this level.
 
The company’s total order book in the road segment currently stands at about Rs 1,352 crore, comprising of six projects spread across the states of Bihar, Karnataka, West Bengal, and Arunachal Pradesh.
 
Commenting on the order, Sunil Gutte, MD of SHEL stated that this is a continuation of their strategy to diversify their order book and will aid in improving the company’s profitability while increasing its foothold in the road sector. He further added that they have also boosted their order book in buildings sector which he expects to be a major sector contributing in the infrastructure development projects coming up in the country.
 
The management has also stated that it aims to bid for projects worth Rs 6,000 crore over remaining part of the current fiscal.