GPT Infraprojects shares rally over 9% after bagging Rs 1,804.48 crore MCGM flyover contract

Shares of GPT Infraprojects Limited surged over 9% after the company announced that it has secured a major infrastructure contract worth ₹1,804.48 crore from the Municipal Corporation of Greater Mumbai (MCGM). The development boosted investor sentiment, reflecting confidence in the company’s execution capabilities and order book visibility.

The newly awarded project involves the construction of a flyover along LBS Margstretching from Kalpana Talkies, Kurla (L Ward) to Pankhe Shah Dargah, Ghatkopar West (N Ward) in Mumbai’s eastern suburbs. The project is aimed at easing traffic congestion on one of the city’s busiest arterial roads and is expected to significantly improve urban mobility in the region.

The contract has been awarded by MCGM, a domestic entity, and will be executed over a period of 36 monthsexcluding the monsoon season. GPT Infraprojects has received the order under a joint venture arrangementwhere its share stands at 26% of the total contract valuetranslating to approximately ₹469.16 crore.

Importantly, the company clarified that there is no promoter or promoter group interest in the awarding authority, and the contract does not fall under related party transactionsensuring transparency and compliance with regulatory norms.

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