Intimation of receipt of LoA from NCL
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Awaiting price reaction for this filing.
Bondada Engineering has received a Letter of Award from NLC India Renewables Limited (NIRL), a Government of India PSU, for Balance of System EPC works on an 810 MW solar power project at the RVUNL Solar Park in Bikaner, Rajasthan. The contract is valued at approximately Rs. 945.10 crore and includes 3 years of operations and maintenance services, with a 15-month execution window. With this win, the company's total EPC order book has risen to approximately 3 GW, strengthening its medium-term pipeline. The order is domestic, with no related-party interest, and is expected to meaningfully contribute to revenue growth over the execution period.
This is a sizeable, government-backed order that materially expands the company's renewable energy order book and improves revenue visibility over the next 15+ months. The signal from a PSU counterparty (NLC India) adds credibility to cash-flow expectations and likely supports a positive sentiment on the stock.