Intimation of Empanelment of New Clients and receipts of new orders totalling of Rs. 7.17 Crores
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Desco Infratech Ltd has secured new orders worth approximately Rs. 7.17 crores (Rs. 7,16,79,611.72 inclusive of GST) from five newly empanelled clients. The clients include Hindustan Petroleum Corporation Ltd (HPCL), Arcelor Mittal Nippon Steel India, Amnex Infotechnologies, Bridge and Roof Company (India) Ltd, and Selan Exploration Technology Ltd. The work involves last-mile connectivity and PNG connections in Rajasthan, MSEDCL installation work in Maharashtra, pipe welding in Surat, CGD project work in Jamshedpur, and route marker installation in Bakrol. All orders are domestic in nature, and the company confirmed that promoters have no interest in the awarding entities.
This is a positive development as it shows business expansion through new client additions across multiple states and sectors. The diversification of clients reduces concentration risk, though the order size is modest. Short-term stock sentiment may see mild positive movement given new PSU and large corporate relationships.