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Nagarjuna Constructions + L&T Bag Orders

September 17, 2007

Nagarjuna Construction Company that it has bagged new orders totaling Rs 150 crore. Out of this, the major order comprises of a project for construction of IV phase bridges in Karnataka for Karnataka Road Development Corporation (KRDCL) valued at Rs 109 crore. Another order is for construction of water treatment plant for Ahmedabad Municipal Corporation, Ahmedabad valued at Rs 32 crore.

The current price of Rs 222.50 discounts Q1 June 2007 annualised EPS of Rs 6.91 by a PE multiple of 32.19.

Larsen & Toubro (L&T) has announced that the company has been awarded an order for methanol reformer package as a part of trombay methanol revamp project for Rashtriya Chemicals and Fertilizers (RCF), Chembur.

This project is of paramount importance to RCF in order to enhance overall energy efficiency, reliability and life of the methanol plant along with augmentation of capacity from present 180 TPD to 220 TPD of methanol product. The owner has retained Haldor Topsoe A/S of Denmark as the process licensor and Projects & Development India (PDIL) as the project consultant.

This order valued at Rs 77 crore comprises the detailed engineering, procurement, supply, transportation, storage, fabrication, inspection, construction, installation, testing, mechanical completion and assistance for pre-commissioning, commissioning and performance guarantee test runs for the said project.

The order was bagged by the company against stiff competition from internationally reputed reformer suppliers, on the strength of its track record in execution of similar projects meeting strict quality requirements and conforming to stringent delivery schedule.

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