SRM Contractors Secures New Highway Project for Upgrading J&K Nashri-Chenani Stretch

SRM Contractors Limited has secured a significant new project with the National Highway Authority of India (NHAI). The company has signed an agreement for an EPC (Engineering, Procurement, and Construction) project valued at Rs 278.48 crore. This project focuses on the upgradation and strengthening of a key highway section in Jammu and Kashmir.

The specific focus of the project is the Nashri-Chenani section of NH-244, which traverses through Patnitop in the Union Territory. The project will encompass a total distance of 39.1 kilometres. By undertaking this EPC project under NH(O), a program aimed at improving existing National Highways, SRM Contractors will contribute to enhancing the overall road infrastructure and connectivity within the region.

This project win signifies a positive development for SRM Contractors. The company boasts a proven track record in the construction and development of roads, tunnels, and other infrastructure projects, particularly within the challenging terrain of Jammu Kashmir and Ladakh. The 24-month construction period for the Nashri-Chenani project signifies SRM Contractors’ commitment to timely project delivery. The successful completion of this project is likely to further strengthen the company’s reputation and position it competitively for acquiring future infrastructure projects across India.

Share Price Movement

SRM Contractors Ltd (SRM) is currently trading at Rs 220.00, reflecting a strong gain of Rs 11.30 (or 5.41%) compared to yesterday’s closing price of Rs 208.70. The stock price reached a high of Rs 226.00 today but also saw a low of Rs 206.60. SRM is currently trading within the upper price band of Rs 250.40.

About Company

SRM Contractors Limited is an engineering construction and development company primarily engaged in the construction of roads, tunnels, and other civil construction activities in the Union Territories of Jammu & Kashmir and Ladakh. The company’s services include detailed engineering, procurement of construction materials, plant, machinery, construction, and operation and maintenance. It has a strong reputation for executing large projects simultaneously and has secured contracts independently or through joint ventures with other entities.

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