NTPC cancels Rs 210 cr contract with Punj Lloyd

The private firm had won the contract from NTPC for civil work of a 750 MW thermal power project in Bongaigaon district of Assam in 2011.

State-run  NTPC has cancelled a Rs 210-crore contract with  Punj Lloyd due to alleged "poor performance" of the private infrastructure company.

According to sources, the contract was terminated due to poor performance of the contractor, Punj Lloyd.

Punj Lloyd did not immediately revert to e-mail seeking comments.

The private firm had won the contract from NTPC for civil work of a 750 MW thermal power project in Bongaigaon district of Assam in 2011.

Punj Lloyd's scope of work in the contract entailed underground and over ground civil, architectural and structural work for the main plant etc and construction of the administration building and auditorium.

The group is engaged in engineering, procurement and construction services in energy and infrastructure sector.

On Monday, the public sector firm cancelled a Rs 23,000 crore contract with Thiess Minecs India due to delays in development and operation of the Pakri-Barwadih coal block.

Thiess Minecs India was appointed mine developer and operator for NTPC's Pakri-Barwadih captive coal block in Jharkhand on November 30, 2010, after a global tender.

The company wanted to start mining coal to reduce dependence on the market for the fuel. NTPC generates over 43,000 MW power from all sources of energy.

Shares of NTPC were trading at Rs 122.80, up 1.24 percent on the BSE.

NTPC stock price

On May 13, 2014, NTPC closed at Rs 122.85, up Rs 1.55, or 1.28 percent. The 52-week high of the share was Rs 160.90 and the 52-week low was Rs 110.90.

The company's trailing 12-month (TTM) EPS was at Rs 14.87 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 8.26. The latest book value of the company is Rs 97.49 per share. At current value, the price-to-book value of the company is 1.26.

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