Ircon International Limited has informed the Exchange about Bagging/Receiving of orders/contracts
IRCON · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Ircon International has received a Letter of Acceptance from Mumbai Metropolitan Region Development Authority (MMRDA) for the electrical and systems package (Package-2) of Mumbai Metro Rail Line 5. The scope covers design, supply, installation, testing and commissioning of 220 kV receiving substations, 25 kV overhead catenary system, SCADA, auxiliary power distribution, E&M works, lifts and escalators for stations and Kasheli Depot, along with 2 years of defect liability and 5 years of comprehensive maintenance. The contract is valued at ₹471.29 crores plus Euro 2.84 million (approximately ₹26-27 crores), taking the total to roughly ₹498 crores inclusive of all taxes except GST and customs duty. The design-build period is 108 weeks, and the work is purely domestic. The promoter group has no interest in MMRDA, and this is not a related-party transaction.
This is a positive development as IRCON adds a sizeable domestic order from a credible government client, strengthening its order book in the urban metro/infrastructure segment. The Euro-denominated portion likely covers imported equipment and provides some natural hedge, while the 5-year maintenance component adds recurring revenue visibility beyond project execution.