Om Infra skyrockets ~20% on bagging Rs1,170 crore order from Brihan MMC

18 Jul 2022 , 09:22 AM

Om Infra Limited informed that it received a letter of acceptance (LoA) from Brihan Mumbai Municipal Corporation.

The order received is for Design, Build, and Operation & Maintenance of the Bhandup Waste Water Treatment Facility under Mumbai Sewage Disposal Project-Stage-II “Priority Works”.

The company has received this order for a total consideration of Rs1,170 crore inclusive of all taxes & duties, Goods and Service Tax (GST).

The contract period for the subject work is 48 months for design & build. It shall further extend to 15 years of operation and maintenance.

Vikas Kothari, Managing Director & CEO, expressed his delight at the development, saying, “This is a significant step toward achieving Swachh Bharat, and we are thrilled to have been a part of this journey. It also demonstrates our ability to provide a comprehensive range of environmental services, covering the entire water cycle, to help the city protect its resources.

This project will significantly improve the quality of vital water infrastructure and living conditions for many Mumbai residents. We anticipate that a large number of projects will continue to progress.”

At around 9.28 AM, Om Infra was trading 19.97% higher at Rs36.35 against its previous close of Rs30.30 on NSE. It opened at Rs35.80 and touched intraday high of Rs36.35 so far.