Kalpataru Projects Wins Multiple Orders Worth Rs 2,333 Crore

Kalpataru Projects International Ltd. bagged multiple orders worth total Rs 2,333 crore that involve transmission and distribution in India and overseas markets, as well as engineering, procurement and construction for an industrial plant in the metal industry. It has also won a residential building order in India.

The orders have been won by Kalpataru Projects, its joint ventures and international subsidiaries, according to an exchange filing on Tuesday.

"The orders in T&D business have enhanced our order book, thereby improving the growth visibility for the T&D business going forward," said Managing Director and Chief Executive Officer Manish Mohnot in the filing.

"These orders reaffirm our confidence that the T&D and B&F business will continue to contribute significantly to our growth going forward," he said.

Shares of the company rose as much as 3.38%, before erasing gains to trade 0.14% lower at Rs 1,171 apiece as of 11:25 a.m. This compares to a 0.20% advance in the benchmark Nifty 50.