Solar Highway Lighting Project acceptance
Awaiting price reaction for this filing.
Lords Mark Industries has received a Letter of Acceptance (LOA) from the National Highways Authority of India (NHAI), Vijayawada Regional Office, for a Solar Highway Lighting project. The project involves installing solar highway lighting at 104 locations across NH-16 and NH-216A in Andhra Pradesh to rectify MoRT&H-identified blackspots and accident spots. The contract is valued at Rs. 11.87 crore, awarded at 10% below NHAI's estimated cost of Rs. 13.19 crore. The company must furnish a performance security of Rs. 59.35 lakh within 30 days of receiving the LOA.
This is a positive development, adding a government-backed order worth ~Rs. 11.87 crore to the company's order book, which strengthens revenue visibility. NHAI as a government counterparty reduces payment risk, though execution timelines and margin (since the bid was 10% below estimate) will be key for shareholders to track.