ENCLOSED HERWITH DISCLOSURE UNDER REGULATION 30 OF SEBI (LODR), 2015 FOR RECEIPT OF LETTER OF INTENT DETAILS REQUIRED ATTACHED IN THE ANNEXURE-1
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Awaiting price reaction for this filing.
Sanmit Infra Ltd received a Letter of Intent from H.G. Infra Engineering Limited (HGIEL) for micro surfacing road work in Telangana, as a sub-contractor. The contract value is approximately Rs. 2 crore (Rs. 1,99,87,500), covering providing and laying micro surfacing course as per MoRTH specifications. The work is expected to commence on April 1, 2025, with a 3-month completion timeline. Sanmit must furnish a 3% performance bank guarantee, 5% of each bill will be retained, and a 12-month defect liability period applies. Payment will be made on a pro-rata basis within 15 days of RA bill certification, with no advance payment.
This is a modest sub-contract win worth ~Rs. 2 crore over 3 months. Given the small order size and short execution window, the immediate impact on the stock or overall business is likely limited, though it adds to the order book from a known infrastructure player.