The company made this announcement during trading hours today, 13 February 2008.
Meanwhile, BSE Sensex was up 378.43 points or 2.28% to 16,986.44.
On BSE, 87,168 shares were traded in the counter. The scrip had an average daily volume of 2.66 lakh shares in the past one quarter.
The stock hit a high of Rs 703 and a low of Rs 677 so far during the day. The stock had a 52-week high of Rs 957 on 28 December 2007 and a 52-week low of Rs 281.95 on 6 March 2007.
The mid-cap scrip had underperformed the market over the past one month till 12 February 2008, declining 20.38% compared to the Sensex`s decline of 19.88%. It had outperformed the market in the past one quarter, gaining 20.20% compared to Sensex`s decline of 16.66%.
The company`s current equity is Rs 23.10 crore. Face value per share is Rs 10.
The current price of Rs 703 discounts its Q3 December 2007 annualized EPS of Rs 47.86, by a PE multiple of 14.69.
The project is to be completed in 24 months.
In November 2007, Era Infra Engineering (EIEL) bagged a contract for setting up super specialty block and trauma care centre at a medical college in Tamil Nadu.
EIEL`s net profit rose 38.9% to Rs 27.64 crore on 63.3% growth in net sales to Rs 335.11 crore in Q3 December 2007 over Q3 December 2006.
Era Infra Engineering builds industrial complexes, residential buildings, multiplexes, super malls, power projects and airports. The company is diversifying its revenue stream by entering into new segments such as irrigation and build operate and transfer (BOT) projects.
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