Intimation of execution of Subcontract Agreement with Kevadiya Construction Limited for a project in the State of Tamil Nadu.
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Awaiting price reaction for this filing.
B.R.Goyal Infrastructure Ltd has signed a subcontract agreement with Kevadiya Construction Limited (KCL) to execute a project in Tamil Nadu. The work involves construction of an underground sewerage system in Mayiladuthurai Municipality under the PDGF programme funded by KfW (German development bank) for 2023-24. The total contract value is INR 24.56 Crore (including GST), with an expected completion timeline of 24 months. The agreement is not a related-party transaction, and no promoter or group company has any interest in KCL. The contract is a subcontract, meaning KCL is the prime contractor and BRGIL is executing part of the work.
This adds a new order worth Rs 24.56 Crore to the company's order book, providing revenue visibility for the next two years. As a subcontract, margins may be tighter than a direct contract, but the KfW-backed funding lowers payment risk. The impact on stock price will depend on whether this materially changes the company's revenue base, which is not specified in the filing.