Blue Star bags 375 crore business orders from Water Projects

Air conditioning and commercial refrigeration maker Blue Star Ltd bagged 375 crore business orders from Water Projects on Monday. Blue Star entered its next stage with the company entering the Water Business after the company s foray into the Water Business.

It said that there was a phase of expansion of the Projects Business category.

The Department of Rural Water Supply and Sanitation RWSS Government of Odisha has secured three rural water supply orders from the Department of Rural Water Supply and Sanitation RWSS, in a regulatory filing.

The scope of all orders includes field investigation and complete station survey, soil investigation, hydraulic and structural design, procurement, construction and erection of electro-mechanical equipment, testing and commissioning and operation maintenance, with a completion period of 24 months, according to Blue Star.

The initiative is in line with the vision of the government for rural water supply under the Jal Jeevan Mission. The scheme intends to provide water to every rural household, i.e. Blue Star Limited Managing Director, B Thiagarajan said: We are already an established player in both the products and projects businesses. We have been focusing on capitalising on our project management expertise to expand our project management credentials by venturing into new projects for a long time, and our entry into the Water Projects Business is a step forward in this direction. In June, Blue Star saw its net profit increase to Rs 74.35 crore, a move that was reflected in a boost in demand. The company had posted a consolidated net profit of 12.71 crore in the fourth quarter of the year ago, according to a regulatory filing by Blue Star.

The revenue from operations was up 87.28 per cent at Rs 1,970, up 87.28 per cent. In comparison to a lower base of the Pandemic-impacted corresponding quarter, 32 crore were compared to that of 32 crore.

Blue Star shares traded 1.83 per cent to Rs 1,005. During early trade hours, the price of the BSE was 80 apiece.