Receipt of Letter of Award from M/s. Tripura Urban and Planning Authority.
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Awaiting price reaction for this filing.
Oval Projects Engineering Ltd, through a joint venture (51% stake with Raviraj Bokadia Creative holding 49%), has received a Letter of Award from the Tripura Urban Planning and Development Authority (TUDA), a government body. The project involves improvement of roads and storm water drainage systems in Khowai, Ranirbazar, and Mohanpur (a cluster of towns in Tripura). The order is valued at approximately Rs. 58.25 crore. The company notes this is its third major project, further strengthening its order book in the infrastructure development space.
Positive for shareholders as the Rs. 58.25 crore government order boosts the company's order book and reinforces its position in infrastructure projects. This is the third major win, which may provide revenue visibility and support the stock sentiment in the near term.