Garuda Construction & Engineering Wins ₹143.96-Crore Redevelopment Order; Stock Jumps 8%

Mumbai, October 9, 2025: Garuda Construction and Engineering Limited (NSE: GARUDA) shares rose 8.00% to ₹203.26 in Thursday’s trading session (as of 10:51 am IST) after the company announced that it won a ₹143.96-crore contract for a large redevelopment project in Mumbai.

Set up in 2010 and listed on the NSE in October 2024, Garuda Construction and Engineering Limited is an EPC player based in Mumbai with experience in residential, commercial, and redevelopment spaces. The firm has a good reputation for the successful execution of complex civil infrastructure works and is now part of the Nifty IPO Index. As of the most recent reporting period, the company’s adjusted price-to-earnings (P/E) is 25.47, indicating consistent investor valuation with its rising order book.

Details of the Redevelopment Project

In an October 8 filing to the exchanges, the company reaffirmed that it had secured the order for civil works of Orbit Ventures Developers for the EPC redevelopment job “Shikhar-B” at Oshiwara, Mumbai. The completion period of 36 months is specified, with the allotment of earmarked flats being part of the overall payment mechanism.

With this new contract, Garuda’s cumulative order book has reached approximately ₹3,229.78 crore, reflecting its expanding presence in Mumbai’s high-demand redevelopment and infrastructure construction sectors.

Stock Market Reaction

Following the announcement, Garuda Construction shares opened at ₹191.80 and surged to an intraday high of ₹201.69, up from the previous close of ₹188.21. The company’s market capitalisation stood at ₹1,863.63 crore, with a VWAP of ₹197.11. Investor sentiment was positive, as buying volume of 1.36 lakh shares exceeded selling volume of 1.21 lakh shares, reflecting confidence in the company’s growth prospects. Over the past 52 weeks, the stock has traded between ₹77.05 and ₹229.99.

REF: https://nsearchives.nseindia.com/corporate/GARUDACONSTRUCTION2010_08102025192824_Intimation__Work_Order.pdf

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