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.
On the reaction day the stock moved 2.1 pts more than Nifty Smallcap 250 and 1.8 pts more than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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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.