Mumbai: Shares of BL Kashyap and Sons surged as much as 8% on Thursday after the construction firm announced it had secured a major housing project order worth ₹300 crore (about $36 million), boosting investor sentiment despite a weak broader market.
The stock climbed 8.4% to an intraday high of ₹54.55 on the BSE. By around 9:40 a.m. local time, shares were trading 5.7% higher at ₹53.16, while the benchmark BSE Sensex was down about 0.1%.
In a regulatory filing, the company said it had received and accepted a letter of intent on February 17, 2026, for the construction and supervision of civil and structural works for a group housing project in Greater Noida, Uttar Pradesh. The contract was awarded by CRC Greens Private Limited and is expected to be executed over a period of approximately 42 months. The order value excludes goods and services tax.
BL Kashyap clarified that the project was awarded by a domestic entity and does not involve any related-party transactions, adding that neither the company’s promoters nor its promoter group have any interest in the awarding entity.
The rally also comes shortly after the company reported strong financial results for the December quarter. For the third quarter of fiscal year 2026, BL Kashyap posted a consolidated net profit of ₹11.83 crore, sharply higher than ₹1.1 crore a year earlier. Revenue from operations rose to ₹323.87 crore from ₹241.86 crore, while earnings before interest, tax, depreciation, and amortization (EBITDA) increased to ₹28.87 crore from ₹6.22 crore year-on-year. EBITDA margins expanded to 8.91%, compared with 2.57% a year ago.
BL Kashyap and Sons operates across India and specializes in construction, infrastructure, and civil engineering projects, including residential complexes, commercial developments, IT parks, hotels, healthcare facilities, and transportation infrastructure such as metro systems, airports, and water and wastewater projects.