Vikran Engineering Secures ₹530.80 Crore Orders

Vikran Engineering Limited (VEL), one of India's emerging multi-sector EPC (Engineering, Procurement, and Construction) companies, today announced that it has received two major Letters of Award (LoA) aggregating to ₹530.80 Crore (excluding GST) from Maharashtra State Electricity Distribution Co. Limited (MSEDCL), a Government of Maharashtra Undertaking, for the Development of Distribution Infrastructure & System Strengthening works across Nashik Zone and Kolhapur Zone in the state of Maharashtra. Both LoAs were issued under the Power Distribution Enhancement Program funded by the Asian Development Bank (ADB), awarded through National Competitive Bidding. The Nashik Zone contract is valued at ₹235.63 Crore and the Kolhapur Zone contract at ₹295.17 Crore, both excluding GST.

The work under both contracts, entails execution of the project on a turnkey basis, covering end-toend activities including site survey, planning, design, engineering, manufacturing, testing, supply, transportation, installation, commissioning, and documentation of all items and materials (including civil works). Key deliverables include new 33/11 kV, 22/11 kV and 33/22 kV Substations, new 33 kV, 22 kV and 11 kV transmission lines, augmentation of power transformers and sub-stations, renovation works, distribution transformers, LT lines, HT/LT underground cabling, and GIS Mapping and Asset Tagging. Each contract is scheduled to be completed within a 21-month timeline from the date of the respective Letter of Award.

Commenting on the development, Rakesh Markhedkar, Chairman and Managing Director, Vikran Engineering Limited, said: "These two LoAs from MSEDCL under the ADB-funded program are a strong validation of our technical capabilities and our consistent execution track record in large-scale power distribution infrastructure. Winning both the Nashik and Kolhapur Zone packages through competitive national bidding is a clear vote of confidence in our engineering depth and project management capabilities.

These orders meaningfully strengthen our order book and position us well for sustained growth as we continue to contribute to Maharashtra's power infrastructure development and support India's broader energy access ambitions through reliable, timely, and sustainable infrastructure delivery."

Shares of Vikran Engineering Limited was last trading in BSE at Rs. 55.38 as compared to the previous close of Rs. 55.57. The total number of shares traded during the day was 116619 in over 1213 trades.

The stock hit an intraday high of Rs. 55.91 and intraday low of 52.80. The net turnover during the day was Rs. 6290466.00.

Source : Equity Bulls

Keywords

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