Garuda Construction & Engineering has added a significant contract to its portfolio, winning a ₹231 crore rehabilitation building project in Chandivali, Mumbai. This contract involves constructing approximately 6.17 lakh square feet of built-up area with a scheduled three-year completion timeline. With this addition, the company’s total order book has increased to ₹3,460.78 crore, reflecting a strong pipeline of ongoing and upcoming projects.
Project Highlights and Strategic Significance
The Chandivali project focuses on building a rehabilitation facility, emphasizing quality construction and timely execution. The project’s sizeable scale and urban location underscore Garuda Construction’s expertise in handling complex construction assignments in Mumbai’s competitive real estate and infrastructure market.
This contract not only enhances the company’s revenue visibility over the next three years but also strengthens its presence in Mumbai, a key hub for residential and rehabilitation projects. The addition of this order demonstrates the company’s ability to consistently secure large-scale contracts and maintain a healthy project pipeline.
Impact on Order Book and Growth Prospects
With the inclusion of this project, Garuda Construction’s total order book now stands at ₹3,460.78 crore, indicating a robust backlog that supports stable revenue growth in the near term. This growth trajectory is likely to provide operational stability and reinforce investor confidence in the company’s execution capabilities and market positioning.
Company Disclosure and Compliance
In line with SEBI regulations, the company has formally informed stock exchanges about the new project under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure, signed by Pravin Kumar Brijendra Kumar Agarwal, Managing Director and Chairman, highlights the strategic importance of this project in Garuda Construction’s overall growth strategy.
Outlook
The Mumbai project underscores Garuda Construction’s commitment to expanding its footprint in high-value urban projects. With a strengthened order book and continued focus on execution excellence, the company is well-positioned to capitalize on India’s growing demand for residential, commercial, and rehabilitation infrastructure.
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