Receipt of Letter of Acceptance from PWD(R&B), Government of Tripura for establishing 50 bedded Drug De-addiction centre.
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Oval Projects Engineering Ltd has received a Letter of Acceptance from the Public Works Department (R&B) of the Government of Tripura to build a 50-bedded Drug De-addiction centre at Santirbazar, South Tripura. The total contract value is approximately Rs. 13.23 crore (Rs. 13,23,49,460). The project is a domestic government contract with no related-party involvement from the promoters. The company is registered in Tripura and operates in infrastructure/engineering services, making this a core-business order. Timeline for execution will be as per the contract terms.
This is a sizeable new government order that strengthens the company's order book and provides revenue visibility. For a small-cap company, a Rs. 13+ crore government contract is a positive development, though execution risk and timing of revenue recognition remain key factors for shareholders to watch.