Receipt of Letter of Award from M/s Tripura Urban Planning and Development Authority (TUDA)
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Oval Projects Engineering Ltd has received a Letter of Award from Tripura Urban Planning and Development Authority (TUDA), a state government body, for the construction of a Vegetable and Fish Market at Belonia in South Tripura district. The contract is valued at approximately Rs. 21.05 crore (Rs. 21,04,92,104.42). The project falls under the Special Assistance for Capital Investment scheme for FY 2023-24 (Urban Reform Part-III) and is to be executed over 730 days (about 2 years) from the date of commencement. The order has been awarded by a domestic entity and there is no related party interest involved.
This is a meaningful new order win from a government client, adding to the company's order book and providing revenue visibility over the next two years. For a small company, a Rs. 21+ crore government contract is a positive development that should support future revenue, though execution and timely completion will be key for investors to track.