Intimation for Termination Notice for Bikaner Railway Station Project.
VPRPL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Vishnu Prakash R Punglia Ltd has received a termination notice from North Western Railway for the contract related to Major Upgradation of Bikaner Railway Station. The contract was awarded to a Joint Venture (VPRPL-KSIPL BKN JV) in which the company is a partner. The termination was received on 11 May 2026, with the balance work to be carried out independently without VPRPL's participation. The company faces financial implications of INR 199.472 million, including forfeiture of Bank Guarantee worth INR 191.215 million and Security Deposit of INR 8.257 million. The company has filed a Writ petition in Rajasthan High Court Jodhpur to challenge the rescission order and prevent encashment of the Bank Guarantee.
This termination represents a significant loss of revenue for the company with direct financial exposure of nearly INR 200 million. The forfeiture of performance guarantee and security deposit will impact the company's cash flow and profitability. The stock may face negative sentiment until the legal outcome is known.