IRCON-Badri Rai Joint Venture Secures Massive INR 763-Crore Smart Grid and Underground Cabling Project in Tripura

In a major boost to northeastern India's urban infrastructure, an infrastructure joint venture has bagged a mega works contract worth INR 763.10 crore from the Tripura State Electricity Corporation Limited (TSECL).

The contract, officially awarded on June 22, 2026, has been won by a joint venture comprising Badri Rai & Company (BRC) and Ircon International Limited (IRCON).

Project Scope and Technology Integration

The domestic works contract (Package-A) focuses on the transformation of the power distribution network in the Agartala Municipality Area under the Agartala Smart Grid initiative.

The extensive scope of the project includes:

Infrastructure Overhaul: Design, engineering, manufacture, assembly, inspection, testing, packing, supply, and delivery of an Underground Power Cable Network spanning both High Tension (HT) and Low Tension (LT) lines. It also encompasses subsequent storage, erection, testing, and commissioning at the site.

Smart Grid & Automation: Implementation of Smart Grid applications, including Supervisory Control and Data Acquisition (SCADA), Advanced Distribution Management System (ADMS), Outage Management System (OMS), and GIS Mapping & integration.

Communication & Software Systems: Laying of an Underground Optical Fiber Cable (OFC) communication system and integrating it with third-party IT applications and hardware, including existing billing, ERP, and Customer Information Systems (CIS).

Control Center Operations: Establishment of both Main and Backup Smart Grid Control Centres utilizing Distribution Network Automation (DNA).

Long-term Maintenance: The contract includes facility management alongside the operation and maintenance (O&M) of the entire system.

Joint Venture Breakdown and Finances

The total consideration for the project stands at INR 763,10,28,794 (including 18% GST).

The partnership is structured with Badri Rai & Company acting as the Lead Partner (JV Partner-1) holding a 74% share, while Ircon International Limited participates as JV Partner-2 with a 26% share.

The financial distribution of the contract size stands as follows:

Badri Rai & Company Share (74%): INR 564,69,61,307.60

Ircon International Limited Share (26%): INR 198,40,67,486.40

The entire project is slated to be executed within a strict timeline of 24 months.

Shares of Ircon International Limited was last trading in BSE at Rs. 139.10 as compared to the previous close of Rs. 137.20. The total number of shares traded during the day was 221919 in over 2521 trades.

The stock hit an intraday high of Rs. 140.40 and intraday low of 137.60. The net turnover during the day was Rs. 30967542.00.

Source : Equity Bulls

Keywords

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