VMPL
Ghaziabad (Uttar Pradesh) [India], August 4: Listed infrastructure contractor VVIP Infratech Limited on Monday said it has received a Letter of Intent (LOI) worth ₹198.49 crore from the Delhi Jal Board for sewerage works linked to two proposed Domestic Sewage Treatment Plants (DSTPs) in the national capital.
The LOI, issued by the Office of the Executive Engineer (PR), SR-I, Delhi Jal Board, covers the providing, laying and jointing of internal and peripheral sewer lines along with house service connections (HSCs) in the command area of the proposed DSTPs at Mohammadpur Majri and Kanjhawala in outer Delhi.
The order carries a completion period of 24 months and is funded by the Government of the National Capital Territory of Delhi, the company said in a filing to the BSE under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The exact contract value is ₹198,49,49,988.
Second large win in four months
The Delhi order follows a Letter of Award for a 60 MLD sewage treatment plant in Haryana worth about ₹104 crore, which the company received in July.
"This ₹198.5 crore project comes on the heels of our recent 60 MLD STP project win worth ₹104 crore," said Vaibhav Tyagi, Managing Director, VVIP Infratech Limited. He added that the wins had helped build credentials for larger projects and that the company had secured significant business in the first four months of the current financial year.
With the latest LOI, VVIP Infratech's unexecuted standalone order book stands at ₹1,072.14 crore, spread across sewage treatment and sewerage works, electrical distribution under the Revamped Distribution Sector Scheme (RDSS) and water supply projects under the Jal Jeevan Mission. The company said this translates into roughly two to three years of standalone revenue visibility.
About the company
VVIP Infratech Limited, formerly Vibhor Vaibhav Infra Private Limited, is a Ghaziabad-headquartered Class 'A' civil and electrical contractor with more than 25 years of operations across Uttar Pradesh and Uttarakhand. Its execution portfolio includes sewage treatment plants built on SBR technology of up to 56 MLD capacity, sewerage networks, Jal Jeevan Mission water supply schemes and electrical distribution systems up to 33 KV. The company says it has completed over 50 projects with no defaults.
The company is listed on the BSE under scrip code 544219 and the symbol VVIPIL. Through its 90 per cent subsidiary VVIP Realtech Private Limited, earlier known as Vibhor Vaibhav Infrahome Private Limited, the group also runs a residential real estate business and has delivered 75 lakh square feet across the National Capital Region.
The BSE filing was signed by Kanchan Aggarwal, Company Secretary and Compliance Officer.
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