
RPP Infra Projects Ltd announced that it has secured a letter of acceptance (LoA) for a new work order. The LoA has been received from the Office of the Superintending Engineer (Highways), Construction and Maintenance, Tiruvannamalai Circle, Tamil Nadu.
The business announced that the project includes widening of the Hogenakkal-Pennagaram-Dharmapuri-Thirupathur Road (SH-60) from two lanes to four lanes.
The contract has an estimated value of ₹25.99 Crore, including GST. The company has received this order from a domestic entity and this includes a performance security clause. The company expects to complete the project within a period of 12 months.
RPP Infra Projects ensured that neither the promoters nor the promoter group companies have any interest in the awarding entity. Hence, the contract does not fall under related party transactions.
Earlier in September, the company reported securing a new order worth ₹134.21 Crore. This order was awarded by Maharashtra State Infrastructure Development Corporation (MSIDC) for improvement of road works in Raigad district.
The stated project includes upgradation of the Matheran–Neral–Kalamb road (SH-109) and the Lobhyanchiwadi–Sugve–Pimpaloli–Neral road (MDR-104), spanning across Karjat taluka. The company also said that it will execute the project within a period of 12 months.
At around 11.47 AM, RPP Infra was trading 1.49% higher at ₹108.90, against the previous close of ₹107.30 on NSE. The counter touched an intraday high and low of ₹115.61, and ₹108.11, respectively.
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