Niraj Cement Structurals’ share price surged 1.81% to Rs 55.13 after the company announced a major coup: its joint venture, Niraj-SPPL JV, had won a massive construction contract worth Rs 1.15 billion from the National Highway Authority of India (NHAI). That news broke after market hours on March 28, 2025.

The contract is for building five underpasses and one flyover along the Puintola to Icchapuram section of National Highway-16 in Odisha. Niraj Cement Structurals will also build the approach roads—and deliver the whole project in just 12 months. The work will be done on an Engineering, Procurement and Construction (EPC) basis—that’s a model where the contractor handles everything from design to completion.

Last year, in the third quarter of the 2024-25 financial year, Niraj Cement Structurals made a net profit of Rs 20.17 million. That’s a 65.6% increase on the previous year’s figure. Revenue did dip by 5.4% to Rs 1.19 billion. But as of April 1, 2025, the company’s market value on the BSE was Rs 2.38 billion. That shows investors are feeling pretty positive about Niraj Cement Structurals’ prospects.