Intimation-regarding receipt of Letter of Intent worth totaling Rs.2.94 Cr
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Awaiting price reaction for this filing.
Desco Infratech Ltd has received a Letter of Intent (LOI) from Aavantika Gas Limited valued at approximately Rs. 2.94 Crore (Rs. 2,94,75,864.28 inclusive of GST). The scope of work involves MDPE (Medium Density Polyethylene) pipeline laying and Last Mile Connectivity (LMC) works in the Indore Gas Area. The order has been awarded by a domestic entity, and there is no related party or promoter group interest in the awarding party. The execution timeline and detailed terms are as per the contract. This represents a new addition to the company's order book in the gas distribution infrastructure segment.
The order size of Rs. 2.94 Cr is relatively modest and represents incremental business for the company. While positive for order book visibility, it is unlikely to be a material catalyst for the stock on its own.