NIBE Subsidiary Secures ₹12.15 Crore MSEDCL Project for GIS Network Mapping
Nibe Space Private Limited, a subsidiary of Nibe Limited, has been awarded a project by MSEDCL worth ₹12.15 Crore (exclusive of GST). The project involves GIS survey, mapping, and data preparation of MSEDCL’s distribution network in Pune and Kokan regions. Execution is expected within 42 months.
The value of the order, while substantial, represents a medium-term project and its impact will be realized over 42 months. It is significant for the subsidiary but may not drastically alter the overall financial standing of the parent company in the short term.
The company has secured a significant new order from a government undertaking, indicating business expansion and potential revenue growth.
Nibe Limited announced that its subsidiary, Nibe Space Private Limited, has received a Letter of Award from Maharashtra State Electricity Distribution Co. Ltd (MSEDCL). The contract is for the execution of a project involving GIS survey, mapping, and data preparation of MSEDCL’s distribution network. The total value of the award is ₹12,14,85,476 (Rupees Twelve Crore Fourteen Lakhs Eighty-Five Thousand Four Hundred and Seventy Six Only), exclusive of GST. This project involves comprehensive digitization of the electrical network from 33 KV substations to end consumer service points, covering both overhead and underground infrastructure for the Pune and Kokan regions. The order is to be executed and delivered in tranches within 42 months. Nibe Limited has confirmed that neither its promoters nor promoter group or group companies have any interest in MSEDCL, and the contract does not fall within related party transactions.
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NIBE Limited filed this with the NSE as a statutory disclosure, categorised under new orders. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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