Announced Mon, 7 Sept, 2026 · 15:51 IST
Garuda subsidiary signs MoU for 93-storey tower in Jeddah, Rs 1,800 cr revenue potential
GARUDA · price
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Price reaction · full curve 14 horizons · vs prior close
+1.4%1-day move
₹178.97
prior close
₹183.00
base price
After-mkt
timing
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+6.3+5.8+7.3+5.8+1.4+0.3+1.7-1.2-1.3-1.7-2.8-7.0——
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AI summary
Dream City Builders, wholly owned subsidiary of Garuda Construction, signed an MoU with Saudi Arabia's Almasarat Company for a 93-storey landmark tower in Jeddah. Project covers about 1.53 lakh sq m, featuring a 5-star hotel with about 350 rooms and a rooftop restaurant. Subsidiary will handle full EPC scope. Estimated revenue potential is about Rs 1,800 crore over the roughly 5-year project period, subject to approvals.
Likely market impact
Major international order worth Rs 1,800 cr over 5 years could boost revenue visibility, but execution and approval risks remain.