Nagarjuna Construction Company (NCC), a diversified infrastructure player has bagged six orders aggregating to Rs484 crore.
The orders secured are related to construction of buildings at various regions across the country spanning construction works related from 5 star Hotels to Educational institutions.
The order sizes vary from Rs36 crore to Rs121 crore and are to be executed over a period varying between 12 months to 21 months.
With accretion of these orders, the outstanding order book of NCC stands at Rs13,440 crore which is 3.9x FY08 revenues. We maintain a BUY on the stock, with a target price of Rs96.