Nagarjuna Construction gets multiple orders

Nagarjuna Construction Company Ltd has announced the following Press Release :

"Nagarjuna Construction Company Ltd (NCC) has recently bagged six new orders valued at Rs 502 Crores as per details given below :

1. An order valued at Rs 185 Crores from Engineer-in-Chief (PH), Public Health, Government of Andhra Pradesh for Water Supply Improvement Scheme at Warangal in Andhra Pradesh to be completed over a period of 18 months.

2. An order valued at Rs 84 Crores from the Commissioner, Greater visakhapatnam Municipal Corporation, Visakhapatnam for Infrastructure facilities at Vizag to be completed over a period of 18 months;

3. An order valued at Rs 50 Crores from M/s. Salarpuria Properties Pvt Ltd, Bangalore for Construction of Salarpuria Cyber Gardens at Hitech City, Hyderabad to be completed in 16 months;

4. An order valued at Rs 53 Crores from Engineer-in-Chief (PH), Public Health, Hyderabad for Water Supply Improvement Scheme at Kadiri in Anantapur District to be completed over a period of 15 months;

5. An order valued at Rs 53 Crores from Project Engineer, Public Health Engineering Department, Govt. of Chhattisgarh, Raipur for Augmentation Water Supply Scheme at Raipur to be completed over a period of 20 months; and

6. An order valued, at Rs 77 Crores from Chief Engineer, Karnataka Urban Water Supply & Drainage Board, Bangalore for Re-modelling of WS Distribution Network at Mysore to be completed over a period of 24 months."

Nagarjuna Construction secures order from Govt of Oman

Nagarjuna Construction Company Ltd has informed that the Company has recently bagged a major order from the Govt of Oman for the prestigious Wadi Adai Al Amerat Road project. The Project cost is estimated to be around Omani Riyals 56.549 million (Rs 570 Crores). The proposed 7.5 km road is to be completed in 18 months. The project among others involves the construction of six new bridges of varying lengths, nine box culverts and one single lane bridge.

Nagarjuna Construction Company

Nagarjuna Construction Company Ltd has informed that pursuant to the powers delegated by the Board of Directors at its meeting held on August 28, 2007, the Executive Committee of the Board had at its meeting held on October 03, 2007 accorded approval for allotment of 19528135 Equity shares of Rs 2/- each to M/s. Blackstone GPV Capital Partners Mauritius V-A Ltd and 718765 Equity Shares of Rs 2/- each to M/s. Blackstone FP Capital Partners (Mauritius) V FII Ltd., on preferential basis.

The aforesaid allotment of Equity Shares of Rs 2/- has been made at a premium of Rs 200.50 per share. Consequent to the aforesaid allotment the existing Paid-up share capital of the company of Rs 41,70,44,560 (divided into 208522280 shares of Rs 2/- each) stands increased to Rs 45,75,38,360 (divided into 228769180 shares of Rs 2/- each).

Nagarjuna Construction

Nagarjuna Construction Company Ltd has announced that the Company in consortium with M/s. POSCO E & C of South Korea has bagged an EPC Contract valued at Rs 1,558 crores from Steel Authority of India Ltd for IISCO Steel Plant at Burnpur, West Bengal. The Project comprises of setting up of Blast Furnace Complex to be completed over a period of 30 months. This will be the largest Blast Furnace in India and would be based on State-of-the-art Technology of POSCO E&C. The Company's Share of the order is Rs 1,100 crores approximately.

Nagarjuna Construction Co. Ltd

Nagarjuna Construction Co. Ltd has informed the Exchange regarding a press release, dated September 11, 2007 which is as follows: "Nagarjuna Construction Company Limited (NCC) has bagged new orders totaling Rs.272 crores. Out of this, the major orders comprise of a project for construction of Shell and Core in SEZ Infocity in Hyderabad for Satyam Computer Services Limited valued at Rs.96 crores and Civil Works for Construction of Mall for Market City Mumbai project in Mumbai for Offbeat Developers valued at Rs.60 crores".

Merrill Lynch - Nagarjuna Constructions

Merrill Lynch has a BUY on Nagarjuna Constructions with a target of Rs 235 to 255

They think Blackstone stake is very positive and the stock itself is very inexpensive