Supreme Infrastructure Share Price Hits 5% Upper Circuit After Winning ₹450 Crore Contract

Supreme Infrastructure hit the 5% upper circuit after securing a ₹450 crore EPC contract for a Powai housing project, boosting its order book to ₹1,725 crore. The stock has surged over 20% in a month and 890% in five years.

On Wednesday, the Supreme Infrastructure India Limited share price was locked at 5% upper circuit. Over the last five days, the stock price has seen a jump of 8.1%, while its one-month performance shows a rise of 20.25%. Looking at the longer term, the company's stock price has delivered a 25.47% return over the past year and an impressive 890.10% return over the last five years.

Why Share Price of Supreme Infrastructure Locked in the Upper Circuit Today?

Supreme Infrastructure India Limited has announced that it has been awarded a significant turnkey construction contract valued at ₹450 crore. The contract is for the development of a Project Affected Persons (PAP) housing complex located in Powai, Mumbai. This project is part of a larger redevelopment initiative spearheaded by BSS Property Ventures and Rajeshwar Property Ventures, both of which are majority-owned by funds managed by Brookfield.

Supreme Infrastructure India Limited has been appointed as the EPC (Engineering, Procurement, and Construction) contractor for Phase 1 of the project. This phase encompasses the construction of approximately 16 lakh square feet of built-up area, which includes civil, Mechanical, Electrical, and Plumbing (MEP) works, as well as associated infrastructure. The company expects to complete this phase within 36 months. This new contract boosts the company's total order book to ₹1,725 crore, which now includes high-value projects with notable clients such as Larsen & Toubro (L&T) and Brookfield-backed ventures.

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About Supreme Infrastructure

Supreme Infrastructure India Limited operates as a construction and infrastructure development company. It undertakes various projects, including roads, bridges, railways, buildings, and other civil construction works. The company's expertise spans across different aspects of infrastructure development, focusing on delivering large-scale projects, such as the recently secured turnkey contract for PAP housing in Powai, Mumbai.

Disclaimer: The article is for informational purposes only and not investment advice.