Pursuant to the provisions of Regulation 30 of SEBI (Listing Obligations and Dislosure Requirements) Regulations, 2015 as amended from time to time & company''s policy for determining materiality ....
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Innovators Facade Systems Ltd has received a Letter of Award from Avante Spaces Limited for design, supply and installation of facade and allied works including BMU works on a non-subcontract basis. The project is a Mixed Use Development located at Kothrud, Pune. The order value is INR 57.63 Crores (excluding taxes). The project is expected to be completed within 12 calendar months from the date of commencement. The order is from a domestic entity, and there is no promoter or related party interest involved in the awarding entity.
This is a sizeable new order win disclosed as material under the company's materiality policy, which should positively impact near-term revenue visibility over the next 12 months. For shareholders, the order adds to the order book and supports growth, though the stock's reaction will depend on the company's existing revenue base and execution capability.