Pursuant to the provisions of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), Regulations 2015 (Listing Regulations), we hereby inform The Monarch Surveyors ....
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Awaiting price reaction for this filing.
Monarch Surveyors and Engineering Consultants Ltd has received a Letter of Acceptance to serve as consultant for all land acquisition activities for Package-4 (Rajkot to Porbandar stretch) of the proposed Somnath Dwarka Expressway. The total contract value is Rs 37.67 crore (Thirty Seven Crore Sixty Six Lakh Seventy Thousand Two Hundred and Fifty Only). The work is on a cash consideration basis, is not a related party transaction, and is subject to necessary government approvals. The company states this is a significant development expected to positively impact business operations. Work is to commence immediately with completion as per contract terms.
This Rs 37.67 crore order win strengthens the company's order book in its core land acquisition consultancy segment and is likely a material positive for revenue visibility. The stock may see positive sentiment given the scale of the contract relative to a small-cap consultancy firm.