BSEL bags construction order in UAE for Rs 1,200 cr

MUMBAI: BSEL Infrastructure Realty will construct three residential towers in UAE for Rs 1,200 crore. The new order, with total land area of 33.75 lakh square feet, takes the BSEL's order book to Rs 2,800 crore, a company release said here.

At current market rates, the new project would earn a net profit of Rs 400 crore for the company, it said.

The company listed on BSE, NSE and Luxembourg Stock Exchange, had recently bagged contracts to construct four similar towers in UAE for Rs 1,600 crore earning a net profit of Rs 500 crore, it added.

In the next three years, the company's total project costs would be around Rs 2,800 crore, earning net profit of Rs 900 crore, the release said.