Choice International bags order worth Rs107 crore from GOI; stock zooms ~1.5%

13 Apr 2022 , 11:24 AM

Choice International Limited informed that its wholly-owned subsidiary Choice Consultancy Services Private Limited, a diversified conglomerate has won contracts amounting to approx. Rs107 crore from the Public Sector Undertaking of the Government of India to provide support for various rural water supply schemes under the Indian government’s Jal Jeevan Mission.

The company has received these contracts for the state of Maharashtra and West Bengal for the services of preparing detailed project reports and project management services.

“We had lent our continuous support to road infrastructure and PMAY projects in the past and are now looking forward to extending our support to the Jal Jeevan mission, which is one of the ambitious programs of the Indian government. With our focus on efficient and diligent execution, we are extremely delighted to be a part of the mission to ensure tap water supply to all rural households in these two states,” commented Mr. Kamal Poddar, Managing Director, Choice International.

The two Government of India’s projects won by Choice in Maharashtra and West Bengal are worth Rs3,519 crore and Rs4,100 crore respectively and are expected to generate consultancy fees for Choice Group of Rs107 crores to be completed within 2 years up to March 2024.

Choice International is currently trading at Rs308.55 up by Rs4.75 or 1.56% from its previous closing of Rs303.80 on the BSE. The scrip opened at Rs314.90 and has touched intraday high and low of Rs319.35 and Rs307.70 respectively.