Era Infra Engineering survives market fall on securing new contract

Era Infra Engineering was flat at Rs 596.95 at 12:38 IST on BSE bucking the weak market trend after the company secured a contract worth Rs 20 crore for supply of ready mix concrete in New Delhi.

The stock hit a high of Rs 605 and a low of Rs 595.50 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 301 on 4 April 2007.

The company’s current equity is Rs 23.10 crore. Face value per share is Rs 10.

The current price of Rs 596.95 discounts Q3 December 2007 annualised EPS of Rs 47.86 by a PE multiple of 12.47.

Era Infra Engineering (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.