Sadbhav Engineering bags Rs 779.73 crore metro rail contract from GMRC

Sadbhav Engineering today announced that it has bagged a Rs 779.73 crore contract for a Metro Railway Project from Gujarat Metro Rail Corporation (GMRC). The project includes the construction of 11.6 km elevated viaduct from Kadarsha Ni Nal to Dream City dead-end including a ramp for depot entry near Dream City and 10 stations for Surat Metro Rail project.

Sadbhav Engineering in a regulatory filing today said, "We are pleased to inform you that the Company has received Letter of Acceptance ("LOA") from GMRC for the following for Metro Rail Project for a contract value of Rs 779.73 Crores." It added, the projects include, "Construction of 11.6 km elevated Viaduct from Kadarsha Ni Nal to Dream City Dead End Including Ramp for Depot entry near Dream City and 10 Stations (Excluding E&M, Architectural Finishing and Roofing) for Surat Metro Rail Project Phase-1, Package-CS1" in the name of SEL-SPSCPL Joint Venture."

The construction period of Metro Rail Project will be 30 months from date of issue of Letter of Acceptance, i.e. January 1, 2021.

Sadbhav Engineering was declared lowest bidder by GMRC for the metro rail project for the section from Kadarsha Ni Nal to Dream City Dead End Including Ramp for Depot entry near Dream City and 10 Stations on December 22, 2020.

At 14.16 hours, Sadbhav Engineering was quoting at Rs 63.20, up Rs 1.15, or 1.85 per cent, on the BSE. The share touched its 52-week high of Rs 142 on January 20, 2020, and a 52-week low of Rs 23.40 on April 9, 2020.