Ahluwalia Contracts bags Commonwealth games village project worth Rs 688 cr

Ahluwalia Contracts India Ltd has announced that the Company has received Letter of Intent (LOI) for construction contract of "Commonwealth Games 2010 Village Residential project" from M/s. Emaar MGF Construction Pvt Ltd., who has got development rights from Delhi Development Authority (DDA). The total covered area under the project would be 21.66 lacs sq ft. The estimated project value is Rs 688 crs and expected to be completed by Dec 2009.

The current order book value of the Company including the above mentioned project stands at Rs 2748 crs.

The stock closed the day at Rs.550.10, up by Rs.17.35 or 3.26%. The stock hit an intraday high of Rs.595 and low of Rs.532.50. The total traded quantity was 41781 compared to 2 week average of 11839.

Source : Equity Bulls

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