Pursuant to the applicable SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended and company''s policy for determining materiality for disclosures, this is ....
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Innovators Facade Systems has received a Letter of Award worth INR 87 Crores (excluding taxes) for the design, supply, and installation of facade works at the Commercial Tower and New Arrival Lobby of the Four Seasons Hotel in Worli, Mumbai. The order has been awarded by Provenance Land Private Limited, a domestic entity, with an expected execution timeline of 17 months from the date of the LOA. The company has confirmed there is no promoter group interest in the awarding entity and the transaction is not a related-party deal. The disclosure was made under SEBI's Listing Obligations and Disclosure Requirements framework, indicating the management considers it material.
This is a significant new order win that strengthens the company's order book and provides revenue visibility over the next ~17 months. A single order of this size is likely material to the company's annual revenue and should be viewed positively by investors as it reflects business momentum in the premium commercial real estate segment.