Disclosure of information pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015- Receipt of Letter of Acceptance.
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Twamev Construction and Infrastructure Limited has received a Letter of Acceptance (LOA) from Steel Authority of India Limited (SAIL) for rebuilding employee quarters at SAIL-ISP Burnpur in West Bengal. The contract value is Rs. 19.04 crore (approximately Rs. 19,04,65,888), inclusive of GST. The work must be completed within 12 months from the effective contract date, which is either the signing date or 30 days from LOA receipt, whichever is earlier. The company must submit a performance bank guarantee of Rs. 95.23 lakh (5% of contract value) within 20 days. This is a construction project for employee housing at SAIL's steel plant facility.
Winning a Rs. 19 crore contract from SAIL, a central government PSU, demonstrates the company's ability to secure orders from large PSUs. This should provide near-term revenue visibility for Twamev, which may support the company's turnaround given its history as a financially stressed company formerly known as Tantia Constructions Limited.