Order Update: Nagarjuna Construction

Order Update: Nagarjuna Construction

Nagarjuna Construction Company (NCC), a diversified infrastructure player, has bagged four orders aggregating to Rs413 crore.

The orders are in areas of setting up of water transmission infrastructure, commissioning of power transformers, design and execution of water supply scheme and construction of buildings for software development.

The orders received are from geographically dispersed locations of Maharashtra, Hyderabad, and Kochi and are to be completed over a period ranging between 12 months to 24 months.

Addition of these orders to NCC’s order book makes the order book stand tall at Rs13,485 crore or 3.9x FY08 revenues. We maintain a BUY on the stock, with a target price of Rs154.