The Company has informed the exchange about the Receipt of Letter of Acceptance (LOA) in JV for Work Contract of appx. Rs. 62 crore from Water Resources Department Assam Water Centre
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GHV Infra Projects, through its joint venture GHV Infra Projects - BIL, has received a Letter of Acceptance for a work contract valued at approximately Rs. 62 crore. The work involves underwater and above-water riverbank protection works in the Jorhat subproject (covering Sivasagar, Jorhat and Golaghat districts in Assam). The contract has been awarded by the Water Resources Department, Assam Water Centre, and falls under the Asian Development Bank's (ADB) Climate Resilient Brahmaputra Integrated Flood and Riverbank Erosion Risk Management Project. The project must be completed within 30 months from the date of commencement.
This order strengthens GHV Infra's order book with a government-backed infrastructure project funded by ADB, offering relatively secure payment visibility. However, since it is a joint venture, the company will only get a share of the revenue and margins, and the long 30-month execution period means revenue will be recognized gradually.