IRCON Secures New Order of ₹1,096 Crore EPC Contract for New Secretariat Complex in Shillong
IRCON International Limited has been awarded a major Engineering, Procurement, and Construction (EPC) contract for the construction of a New Secretariat Complex in New Shillong City, Meghalaya. The contract, valued at ₹1,096.17 crore (inclusive of GST), has been awarded by the Directorate of Urban Affairs, Government of Meghalaya.
The project is being executed through a joint venture (JV) between Badri Rai and Company (BRC) and IRCON, where BRC holds a 74% stake, while IRCON has a 26% share. This means IRCON’s financial involvement in the project amounts to approximately ₹285 crore.
Key Project Details of This New Order:
- Client: Directorate of Urban Affairs, Government of Meghalaya
- Scope: Construction of a New Secretariat Complex and Campus Infrastructure
- Project Type: EPC (Engineering, Procurement, and Construction)
- Timeframe: 36 months
- Contract Value: ₹1,096.17 crore (IRCON’s share: ₹285 crore)
- Nature: Domestic project
- JV Partners: IRCON (26%) and BRC (74%)
For More Details of This Order Click Here
Strategic Importance of this New Order
The development of the new Secretariat Complex in New Shillong City is a significant step in improving administrative infrastructure in Meghalaya. The project aligns with the state’s vision for urban development and modernized governance facilities. IRCON, known for its expertise in infrastructure projects, will play a crucial role in ensuring high-quality execution within the stipulated 36-month timeline
Financial and Market Impact of This New Order
This new order strengthens IRCON’s position in the EPC sector and enhances its revenue visibility over the next three years. The company’s successful bid in a joint venture with BRC further highlights its ability to compete in large-scale infrastructure projects. Investors may see this as a positive development for IRCON’s future earnings and stock performance. With this major contract win, IRCON continues to expand its infrastructure footprint, reaffirming its commitment to nation-building and sustainable development.
Specialty Chemicals Leader: From Record IPO Gains of 73%, to a New Growth Phase!
Ircon Stock Performance Today
IRCON’s stock closed at ₹138.17, marking a 1.62% decline from its previous close of ₹140.45. The stock opened the trading session at ₹142.00, reaching a high of ₹142.65 and a low of ₹137.50 during the day. The downward movement suggests some selling pressure, possibly influenced by broader market trends or investor sentiment. Despite the dip, the stock remains within a stable trading range, reflecting resilience. Investors may closely monitor IRCON’s performance, especially in light of its recent ₹1,096 crore EPC contract win, which could positively impact its long-term growth prospects.
Disclaimer: This content is intended solely for educational and informational purposes and should not be interpreted as financial or investment advice. The information presented is derived from publicly available sources and independent analysis; however, its accuracy or completeness is not guaranteed. Readers are encouraged to conduct their own due diligence and seek guidance from a professional financial advisor before making any investment decisions. Neither the author nor stoxmail.com assumes responsibility for any financial losses or investment actions taken based on this article.