ITD Cementation Secures ₹593 Crore Deal, Cementing India's Infrastructure King Status

ITD Cementation India Ltd. has announced the signing of a new contract worth around ₹593 crore (all taxes and duties included, except GST), which is another sizeable addition to its already strong order book. The new contract is testimony to ITD Cementation's increasing supremacy in the Indian infrastructure and construction industry and bolsters its top-line visibility for the future even more.

 

Key Highlights:

 

The ₹593 crore deal is one of a series of large-scale project victories for ITD Cementation, which evidences the strong execution prowess of the company and its status as a go-to partner in large-scale civil and infrastructure projects.

 

This victory follows a string of large-ticket contracts, such as a recent marine project at Dahej LNG terminal for more than ₹1,000 crore and a ₹1,648 crore contract for nearshore reclamation and shore protection at the Greenfield Vadhvan Port in Maharashtra.

 

ITD Cementation's order book is a whopping ₹19,918 crore as of March 2024, providing revenue visibility for the next 2.5 years and placing the company on the path to steady growth.

 

The diversified order book of the company includes marine structures, metros, airports, highways, bridges, and industrial buildings with government, PSU, and private customers bringing a balanced order book mix.

 

From a financial perspective, ITD Cementation has posted a 34% increase in net profit and 23% increase in revenue for Q2 FY25, which underlines its excellent operational performance and execution history.

 

With a robust bidding pipeline of ₹25,000–30,000 crore, ITD Cementation is well-placed to take advantage of India's infrastructure boom and hence is a stock to look out for in the industry.

 

Sources: ITD Cementation Official Release, HDFC Securities, Business Standard