Sadbhav Engineering Ltd saw its stock prices gain almost 7% on Tuesday as the company was declared the lowest bidder by Gujarat Metro Rail Corporation (GMRC) Limited.
The said order for the Surat metro rail project is to boost the company’s forward outlook and growth prospects. The company’s bid for the metro rail projects stood at ₹780 crore.
With the order expected to be awarded soon, the forward revenue visibility for the company will improve to about five years.
Sadbhav’s order book stood at around Rs9,397crore at the end of September quarter, which was more than 4 times the company’s FY20 revenues.The order pipeline for the company remains strong too.