Tantia Constructions Secures ₹151 Crore Ropeway Deal

Tantia Constructions Ltd., along with a partner firm, has secured a ₹151 crore contract from the Directorate of Tourism in Meghalaya. The project focuses on designing, building, operating, and maintaining a passenger ropeway at Shillong Peak under the Meghalaya Ecotourism Infrastructure Development Project. The initiative is funded by the New Development Bank, and Tantia Constructions holds a 60% share in the consortium.

What the Project Involves

Shillong Peak is an important tourist destination in Meghalaya, and this ropeway is expected to improve access to the area. The contract includes not just the construction of the ropeway but also its long-term operation and maintenance. The project falls under the Engineering, Procurement, and Construction (EPC) model. A letter of acceptance for the project was issued on December 3, 2024.

Q2 FY25 Financials

Tantia Constructions has shown signs of recovery in its financial performance. In the second quarter of FY25, the company posted a net profit of ₹0.28 crore, compared to a net loss of ₹0.12 crore during the same period last year. Revenue also saw a jump, increasing nearly fourfold to ₹12.3 crore from ₹3.22 crore year-on-year.

Stock Movement & Fundraising

On December 5, the company’s stock price closed at ₹46.52 per share, marking a 4.99% rise. Tantia Constructions’ stock is trading at ₹48.25 today, marking a gain of 3.72% (+₹1.73) and has seen a growth of 105.32% over the past year and 85.93% year-to-date.

In November, the company’s board approved a proposal to raise funds through the issue of equity shares and other convertible securities. The Qualified Institutional Placement (QIP) is set to issue up to 4 crore equity shares with a face value of ₹1 each.

All in all, the Shillong Peak ropeway project adds to ongoing efforts to boost tourism infrastructure in Meghalaya. It will be interesting to see how Tantia Constructions delivers on this high-stakes project.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.