The Mumbai-based, Petron Engineering Construction Ltd has announced that the company has received two Letter of Intents (LOIs) from Reliance Energy Ltd., Utility Energytech Engineers, worth Rs. 988.7 million.

Incorporated in 1976, the Petron Engineering provides services in mechanical, erection, piping, electrical, instrumentation, painting, refractory and insulation work for refineries, chemicals, petrochemicals, cement, fertilizers, metallurgical, power plants and other industrial plants.

The first order worth Rs. 389.9 million is for erection, testing, commissioning, trial operation and handing over of boiler proper (2 units) for 2x300 MW Rosa Thermal Power Project (RTPP), in Uttar Pradesh,

While, the second order worth Rs. 598.8 million is for erection, testing, commissioning, trial operation and handing over of boiler proper (2 units) for 2x600 MW Hisar Thermal Power Project (HTPP) in Haryana.

The company presently holds market cap worth Rs. 301 crore, PE Ratio of 26.97; EPS of 14.83 and BV of 71.82. The firm had showed a net profit of Rs 2.55 crore for the quarter ended September 2007 as against Rs. 2.24 crore in same quarter of last year. The stock trading at Rs. 400 on BSE, was up by 6% compared with previous close of Rs. 376.