Dhruv Consultancy receives LOI for appointment as Project Management Consultancy; Stock dips 1%

25 Jul 2022 , 01:10 PM

Dhruv Consultancy Services Limited has informed to the exchanges regarding receipt of Letter of Acceptance (“LOA”) for Project Management Consultancy services in Andhra Pradesh.

The project work is for upgradation of New NH 216E, starting from its junction with NH 216 near Amalapauram connecting Palivela and terminating at its junction with NH 216A at Ravulapalem in Andhra Pradesh”, from the Government of Andhra Pradesh AP PWD (R&B) Department through letter dated July 19, 2022 as received on July 22, 2022 directly by the Company i.e. Dhruv Consultancy & in association with KAIUS Consulting Private Limited.

As per the filing, the Project Management Consultancy Services Fees for the said Project will be Rs5,88,57,507/- excluding taxes and the Contract period will be of 96 months.

“The Company needs to submit the Performance Bank Guarantee within 15 days from the date of receiving LoA, post which all the statutory formalities as per RFP shall take place”, informed company in a regulatory filing.

At around 1:11 PM, Dhruv Consultancy was trading at Rs49.40 per share lower by 0.90% on the BSE.