This Press Release is regarding the recent award of letter of Intent (LOI). This important development reflects our commitment. Please find the press release attached for your review.
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VVIP Infratech has secured Letters of Acceptance and Intent (LOA/LOI) worth a total of Rs. 414 Crores for two infrastructure projects. The first is a Rs. 175.80 Crores sewerage network project in Rishikesh, Uttarakhand, funded by German Financial Cooperation under the Ganga Rejuvenation programme, with a 730-day construction period. The second is a Rs. 238.36 Crores electric distribution project across four clusters in Uttar Pradesh (Bulandshahr, Saharanpur, Moradabad, and Meerut zones) under the Government of India's Revamped Distribution Sector Scheme (RDSS), with a 547-day construction period. The company is a Class A civil and electrical contractor operating primarily in northern India. In FY 2024, it reported a turnover of Rs. 285.82 Crores, meaning these new orders are worth roughly 1.45 times its annual revenue, significantly expanding its order book.
This is a strongly positive development for shareholders — the Rs. 414 Crore order value is about 145% of FY 2024 revenue, which should materially boost the company's order book and provide multi-year revenue visibility. The mix of government-backed and internationally funded projects also signals low counterparty risk.