NIBE Limited has informed the Exchange that Nibe Space Private Limited (Subsidiary Company) has received Letter of Award.
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NIBE Limited's subsidiary, Nibe Space Private Limited, has received a Letter of Award worth Rs. 12.58 Crore from Maharashtra State Electricity Distribution Co. Ltd (MSEDCL), a government of Maharashtra undertaking. The project involves GIS-based survey, mapping, and digital data preparation of MSEDCL's electrical distribution network spanning from 33 KV substations to end consumer service points, covering both overhead and underground infrastructure. The project will be executed in tranches over a period of 42 months. This is a domestic order from a government entity with no related party involvement.
This contract win is positive for NIBE Limited as it demonstrates the subsidiary's capabilities in the GIS and digital mapping space, with a government client. The Rs. 12.58 crore order provides revenue visibility for the next 3.5 years.