Ahluwalia Contracts rallies after bagging orders worth Rs 2,089 cr from DLF

Shares of DLF added 1.15% to Rs 827.70 on the BSE.

The order, valued at Rs 2,089 crore (excluding GST), has been awarded for a domestic residential housing project involving civil, structural, and rough finishing works at The Dahlias, DLF5, Gurugram.

The contract is to be executed over a period of 44 months.

The company confirmed that neither the promoter, promoter group, nor group companies have any interest in the entity awarding the contract.

Furthermore, the transaction does not fall under related party transactions, and hence, the question of it being conducted at arm?s length does not arise.

Ahluwalia Contracts' project portfolio encompasses projects across residential and commercial complexes, hotels, institutional buildings, hospitals and corporate offices, information technology (IT) parks and industrial complexes.

DLF with its subsidiaries, associates and JVs is engaged in real estate development, from the identification and acquisition of land to planning, execution, construction and marketing of projects. It is also engaged in business of leasing, generation of power, provision of maintenance services, hospitality and recreational services which are related to the overall development of real estate business.

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