Ahluwalia Contracts Bags ₹394.36 Crore Contract, Stocks Surge Over 6%

Ahluwalia Contracts (India) has successfully secured a lucrative contract worth ₹394.36 crore from Emaar India Ltd, causing a notable surge in the company's stock by 6.73% on the NSE. As of 11:39 am on Monday, the stock was trading at ₹923.55.

According to the stock exchange filing, Ahluwalia Contracts (India)'s contract with Emaar India focuses on the construction of residential towers and clubhouse works for PH-I & II (T1, T2, T3, T4, NTA, Club & EWS) at Urban Oasis, Sector-62, Gurgaon, Haryana. The stipulated timeline for the execution of the contract is set at 30 months.

Simultaneously, the company's board is scheduled to convene on February 13, 2024, to deliberate and approve the financial results for the quarter ending December 2023. This development further underlines the company's active and dynamic presence in the construction sector.

HBL