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GARUDA IPO

Garuda Construction and Engineering Limited

IPO Doc

Start Date08-10-2024

Application Timing10am-5pm

Price Range₹92 - ₹95

Min Qty157

Min. Investment₹14444

Listing DateNA

Close Date10-10-2024

About Garuda Construction and Engineering Limited

Incorporated in 2010, Garuda Construction and Engineering Limited is a civil construction company that provides end-to-end civil construction for residential, commercial, residential cum commercial, infrastructure, and industrial projects and additional services for infrastructure and also hospitality projects. Civil construction includes the construction of residential, hospitality, industrial, infrastructural, and commercial buildings, construction of concrete building structures, and composite steel structures which are required for civil construction.

Why To Invest in Garuda Construction and Engineering Limited

Civil construction company engaged in civil, commercial, and infra constructions and related services. The Company proposes to utilize the funds being raised to fund the following objectives:

Working Capital Requirements
General Corporate Expenses and Unidentified Inorganic Acquisitions

Financial Table

Year	2024	2023	2022	2021
Revenue from Operations (Rs. Cr)	118.7	1541.7	1606.8	770.2
PAT (Rs. Cr)	35	36.4	40.7	18.7

Strengths And Risks

Focused business approach: Company usually concentrate specifically on undertaking construction of buildings, without engaging in any other activities such as land development or infrastructure development.

Proven track record: Company has established a track record of successfully executing a diverse mix of construction projects i.e., residential, hospitality and commercial projects. For instance, they constructed the Golden Chariot Vasai Hotel & Spa, also, renovation of Golden Chariot, the Boutique Hotel, Mumbai in the hospitality sector in the year 2015.

Strong project management capacity: Over the years, company has procured a fleet of construction equipment to ensure high quality and timely execution of projects. Company places great emphasis on executing each project in strict compliance with the contracts, while adhering to high standards of construction quality.

Increasing order book: As on the date of filling Red Herring Prospectus, the contract value of ongoing and upcoming projects amounted to a total of Rs. 1,40,827.44 lakhs with projects spread across the MMR, Arunachal Pradesh, Karnataka, Rajasthan and Punjab.

Client Concentration: Company's total revenue comes from our top 10 clients, mainly promoter-related entities and group companies. The loss of any of significant clients may have an adverse effect on business and prospects.

Group company projects: Garuda Construction and Engineering Limited is a construction company having predominantly group company and promoter associated construction business, they are venturing into third party contracts for further growth and increased business.

Cyclical business: The construction industry is cyclical with significant fluctuations in the market value of land and inventories as they can change significantly due to changing economic and market conditions.

Legal Proceedings: One of the promoter- Mr. Pravin Kumar Brijendra Kumar Agarwal is involved in a criminal proceeding initiated by Airport Police Station which is currently pending before the Hon’ble Metropolitan Magistrate at Andheri, Mumbai. Any such proceedings or any adverse action may affect the reputation of promoter and business.

Negative cash flows: For the period ended April 30, 2024 and year ended March 31, 2024 company has some billed revenue the payment for which are due and hence the cash flow from operations is negative. Cash flow from financing activities are negative due to repayment of interest and borrowings in the stub period ended April 30, 2024 and FY 2024, FY 2023 and FY 2022.

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Astha Credit & Securities Pvt Ltd
NSE, BSE & MCX Sebi Reg No:
INZ000187932

For any grievance contact:
grievance@rupeezy.in
0755-4268599

Membership ID:
NSE - 12227 BSE-6844 MCX - 40000
NSDL-IN303420 CDSL-94500

For cyber attack incident reporting:
gyanesh@rupeezy.in
9669695615

CIN:
U65929MP2003PTC016241

SEBI RA Registration:
INH000013332

SEBI Depository Participant Reg No:
IN-DP-611-2021

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Client Bank account Details:

Sr. No	Name of Bank Account	Bank Account Number	IFSC Code
1	ASTHA CREDIT AND SECURITIES P LTD - USCNBA A/c	00620340000150	HDFC0000062

*Investors are requested to note that Stock broker Astha Credit and Securities Private Limited is permitted to receive/pay money from/to investor through designated bank accounts only named as client bank accounts. Stock broker Astha Credit and Securities Private Limited is also required to disclose these client bank accounts to Stock Exchange. Hence, you are requested to use following client bank accounts only for the purpose of dealings in your trading account with us. The details of these client bank accounts are also displayed by Stock Exchanges on their website under “Know/ Locate your Stock Broker.

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Client registration documents in Vernacular languages: Get Documents