Blue Star is rising fast on Monday as it bags orders worth Rs 375 crore

Blue Star Ltd in a press release on August 8, announced that it has forayed into the Water Projects business and has secured Water Project orders totalling Rs 375 crore.

Apart from being India's leading air conditioning and commercial refrigeration company, Blue Star is also a renowned Engineering, Procurement and Construction (EPC) player in the Electro-Mechanical Projects space. With the company’s foray into the Water Business, Blue Star has entered into its next phase of expansion in the Projects Business category.

It has secured three rural water supply orders from the Department of Rural Water Supply and Sanitation (RWSS), Government of Odisha as under -

• An order worth Rs 126.51 crore for the execution of Mega Piped Water Supply (PWS) to 144 villages in Baliapal Block of Balasore District, Odisha.

• Another order worth Rs 62.16 crore for the execution of Mega PWS to 72 villages under 11 Gram Panchayats of Nischintakoili block of Cuttack district, Odisha.

• A third order worth Rs 186.68 crore for the execution of Mega PWS to 13 Gram Panchayats (GPs) of Banki, 17 GPs of Dampada, and two GPs of Baranga Block, in Cuttack district, Odisha.

The above orders have an execution timeline of 24 months and include 5 years of operation and maintenance.

The Indian government has placed a strong emphasis on rural water supply and has launched the "Jal Jeevan Mission," which aims to supply water to every rural family, or "Har Ghar Jal," by 2024. The state of Odisha is among the first few to have launched several projects under this programme, showing how the state governments have already committed to this aim. Blue Star, with its project management expertise, is perfectly aligned with the Indian Government in this endeavour.

At 11.10 am shares of Blue Star are quoting at Rs 1004.45, up 1.36% or Rs 13.50 per share over its previous close.