Gayatri Projects clarifies on news regarding new project from Orissa Government

With reference to the news item appearing in a leading web Portal titled "Gayatri Proj may bag Rs 300 cr Orissa Govt project; Srcs", Gayatri Projects Ltd has clarified that the Company has not provided or announced any information about the works of Rs 300 Cr likely to be awarded to the Company by the Orissa Government.

In the competitive bidding of tenders by the Orissa Government, the Company has also participated and as there is not competition its tender is stood as single tender for the work. The Orissa Government is not yet finalized the tender and also not issued the work order to the Company.

It its the Company's prudential policy to disclose such market sensitive information only on receiving formal work orders from the employers.

Therefore, the information appearing in the above portal is not announced / sourced from the Company's end.

After receiving the formal work orders, the Company will be announcing the information about the new orders to the Stock Exchange (as the Company was doing regularly) first and followed by media.

Source : Equity Bulls

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