Garuda Construction and Engineering Limited IPO
Garuda Construction and Engineering Private Limited offers end-to-end civil construction services for residential, commercial, mixed-use, infrastructure, and industrial projects, alongside additional services for infrastructure and hospitality projects.
Comprehensive Civil Construction Services
Garuda’s end-to-end services cover the entire construction lifecycle, from the initial stages to project completion. These services include:
i. Detailed route surveys and engineering designs
ii. Mobilization of resources and micro-scheduling of construction activities
iii. Obtaining construction permissions, soil/water testing, and contractor/manpower hiring
iv. Material procurement, lab testing, and execution of construction as per approved plans
v. Operations and maintenance services (“O&M”), Mechanical, Electrical, and Plumbing (“MEP”) services, and finishing work
The construction work involves both concrete building structures and composite steel structures, which are procured from subcontractors based on specific designs, provided either by overlying developers or Garuda’s own engineering teams. This enables the company to deliver complete construction services under its banner.
Order Book and Growth Prospects
As of the date of filing the Red Herring Prospectus, Garuda’s order book aggregates to ₹1,40,827.44 lakhs, reflecting the company’s significant growth prospects and the demand for its construction services. This robust pipeline positions Garuda to continue scaling its operations and expand into new sectors and territories.
Conclusion
Garuda Construction and Engineering Private Limited is poised for significant growth as it moves from an in-house contractor to an independent construction and development firm. With a diverse project portfolio and an expanding order book, the company is well-positioned to serve a broader range of clients and undertake larger and more complex civil construction projects.
Objects of the Garuda Construction and Engineering Limited IPO:
Garuda Construction and Engineering Limited IPO Details:
Open Date: | Oct 08 2024 |
Close Date: | Oct 10 2024 |
Total Shares: | 27,800,000 |
Face Value: | ₹ 5 Per Equity Share |
Issue Size: | 264.10 Cr. |
Lot Size: | 157 Shares |
Issue Price: | ₹ 92 - 95 Per Equity Share |
Listing At: | NSE,BSE |
Listing Date: | Oct 15 2024 |
Promoters And Management:
Financials of Garuda Construction and Engineering Limited IPO:
Particulars | April-24 | FY24 | FY23 | FY22 |
Revenue | 11.87 | 154.17 | 160.68 | 77.02 |
EBITDA | 4.7 | 50.08 | 55.99 | 27.16 |
EBITDA Margin | 39.60% | 32.48% | 34.84% | 35.26% |
PAT | 3.5 | 36.43 | 40.79 | 18.78 |
PAT Margins | 29.48% | 23.62% | 25.38% | 24.38% |
Comparison With Peers:
Companies | Revenue | EBITDA | PAT | MCap | P/E |
Garuda Construction | 154.17 | 50.08 | 36.43 | 883 | 24.26 |
PSP Projects | 2,565 | 293 | 121 | 2,594 | 21.2 |
Capacite Infraprojects | 2,071 | 406 | 155 | 3,127 | 20.2 |
Vascon Engineers | 1,108 | 111 | 66 | 1,336 | 20.3 |
Ahluwalia Contracts (India) | 4,011 | 602 | 356 | 7,089 | 19.91 |
B L Kashyap & Sons | 1,342 | 136 | 63 | 2,040 | 35 |
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