It is to inform that Nibe Space Private Limited (Subsidiary Company) has received the Letter of Award.
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NIBE Ltd's subsidiary, Nibe Space Private Limited, has received a Letter of Award from Maharashtra State Electricity Distribution Co. Ltd (MSEDCL), a government of Maharashtra undertaking. The contract value is Rs. 12.58 crore (inclusive of all taxes and duties) for GIS-based survey, mapping, and digital data preparation of MSEDCL's electrical distribution network. The project involves comprehensive digitization from 33 KV substations to end consumer service points, covering both overhead and underground infrastructure. The order is to be executed in tranches within 42 months. The promoter group has no interest in MSEDCL and this is not a related party transaction.
This is a positive development for NIBE as the subsidiary secures a significant government contract. The Rs. 12.58 crore deal provides revenue visibility over 42 months and demonstrates the subsidiary's capabilities in GIS and digital mapping services for utility infrastructure.