Garuda Construction rallies after securing Rs 144-cr EPC contract from Orbit Ventures

The contract is valued at Rs 143.96 crore and will be executed over a period of 36 months, starting from the date of receipt of further commencement clearance (CC). The scope includes complete redevelopment work at the designated site.

Payment under the contract will be made through the allotment of earmarked flats. The awarding entity is a domestic firm, and the transaction does not involve any related parties or promoter group interests.

The project marks a significant milestone for Garuda Construction, strengthening its presence in Mumbai's urban redevelopment space.

Garuda Construction and Engineering specialises in turnkey EPC solutions and has expertise in residential, commercial, infrastructure, and renewable energy projects.

The company reported a consolidated net profit of Rs 27.99 crore in Q1 FY26, which is nearly 3 times the PAT of Rs 8.64 crore recorded in Q1 FY25. Revenue from operations for the first quarter aggregated to Rs 125.15 crore, up 3.6 times on year-on-year (YoY) basis.

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