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Kridhan Infra has informed the exchanges that its associate company Vijay Nirman Company Private Limited (VNC) has been awarded a new project worth ₹132.6 crore. The award has been granted for the main civil works for a fertiliser plant in Gorakhpur, Uttar Pradesh, and the timeframe for the completion of the project is approximately 14 months.
Kridhan currently owns approximately 41 per cent stake in VNC, which has completed over 400 projects, in 30 years of operations. VNC has generated revenues of approximately ₹900 crore in FY18. Kridhan Infra’s proforma order book after consolidation of VNC in India and Swee Hong in Singapore, stands at over ₹3,500 crore, as on March 31, 2018, of which, VNC contributes almost 80 per cent. Shares of Kridhan Infra jumped 3.22 per cent at ₹78.60 on the BSE.
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