Era Infra Engineering bags Rs.148 crores order from Delhi Metro

Era Infra Engineering, a flagship company of Era Group, today said its joint venture with Ukraine's KMB has secured a Rs148.40 crores order from Delhi Metro Rail Corp (DMRC) for construction of Dwarka underground metro station, approach cut and cover tunnel and connected works. The order is to be completed by November 2009, the company said in a statement.

With this contract, the Era Group's order backlog stands currently at Rs.4731 crores, which it expects to complete over a period of two years. Chairman and managing director of Era Infra Engineering, HS Bharana, said that they have also qualified for projects worth more than Rs.15000 crores in various areas of power, roads and railways of which they expect to translate around 20 per cent into firm orders.

He also disclosed that the company has applied to the Securities and Exchange Board of India (SEBI) for coming out with an open offer for acquiring about 46 lakh shares.

Era Infra Engineering is headquartered at New Delhi and is engaged in the construction of highways, railways, airports, power and industrial projects, institutions and universities, and residential and commercial complexes.

Recently the company bagged a contract valued at Rs.86.5 crores from Central Park Estates for the construction and development of central park at Gurgaon. It had earlier secured an order from Airports Authority of India in February worth Rs.77.9 crores.

Era Infra Engineering is one of the two listed entities of the Era Group, the other being Era Financial Services. The Era Infra Engineering stock ended 0.79 per cent up at Rs.596.40 at the Bombay Stock Exchange today.