Pratibha Ind bags Rs 70 cr contract

MUMBAI - Pratibha Industries has secured a contract for design and construction of storm water pumping station at Irla, Andheri from Municipal Corporation of Greater Mumbai. The project is in joint venture with Grundfos Pumps, Chennai and Keum Jung Industrial of Korea.

Total value of the contract is Rs 70.70 crore, and will be executed in 12 months.

Meanwhile, the company has securitised its first four deferred receivables from Navi Mumbai Municipal Corporation, in respect of the water supply project under execution, with Reliance Capital. The value of the deal is Rs 140 crore.

The project, at a cost of Rs 200.90 crore, is in the final stage of completion and the first milestone shall be completed by Dec 31. Entire project is scheduled to be completed by Mar 31, 2008.

Pratibha Industries is engaged in infrastructure business and manufacture of SAW pipes.

At 12:02 pm, Pratibha Industries shares were up 6.52 per cent at Rs 268 on BSE.