Punj Lloyd bags contract worth Rs 483 crore from NTPC, share prices surge

Diversified EPC conglomerate, Punj Lloyd Group, has been awarded two electrification contracts from National Thermal Power Corporation Ltd (NTPC). The rural electrification contracts, which Punj Lloyd has bagged for Puri and Koraput districts of Odisha, amount to Rs 483 crore. The contracts have been awarded under Rajiv Gandhi Grameen Vidyutikaran Yojana of 12th plan (2012-2017).
According to a statement by the company, the scope of work for these two projects includes supply and erection of rural electrification work, construction and augmentation of substation, installation of distribution transformers and providing service connections to below poverty line (BPL) consumers in the districts.
The company had recently announced its debut in T&D sector with two orders for rural electrification by Power Grid Corporation of India Ltd.
“Electrification of these districts will give much awaited development to the remote regions of Odisha and Punj Lloyd is proud to be involved in this transformation. With this, Punj Lloyd will be executing four T&D orders with a cumulative value of about Rs 1,000 crore”,C K Thakur, President & CEO Power, Punj Lloyd said.
Punj Lloyd Group’s order backlog stands at Rs 20,283 crore. The order backlog is the value of unexecuted orders on September 30, 2015 and new orders received after that date.
The Punj Lloyd Group is a diversified international conglomerate offering EPC services in Energy and Infrastructure along with engineering and manufacturing capabilities in the Defence sector.
Shares for Punj Lloyd rose by 4.37% to Rs 25.15 at 14:45 IST on BSE after the company announced about the contracts with NTPC on 19th November.