Intimation regarding Receipt of Notification of award from ONGC amounting to Rs. 166.69 million
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Desco Infratech Ltd has received a Notification of Award (NOA) from ONGC (Oil and Natural Gas Corporation Limited) for replacing 24-inch crude oil transfer pipelines from ONGC Trombay Terminal to BPCL and HPCL refineries in Uran, Maharashtra. The contract value is Rs. 166,690,694 (approximately Rs. 166.69 million), inclusive of GST. The company had emerged as the L1 (lowest) bidder for this project. This is a domestic order with no related party transactions involved, and no promoter interest in ONGC.
This new contract from ONGC, a Maharatna government enterprise, provides a meaningful revenue opportunity for Desco Infratech. The order value, while undisclosed relative to the company's total revenue, is a positive development suggesting the company is winning contracts in the oil and gas infrastructure sector.