Supreme Infrastructure India Ltd. Secures ₹71.30 Crore Order for Powai Project
Supreme Infrastructure India Ltd. received a ₹71.30 Crore LOI for Excavation and Shore Piling works for the 'One Forest Avenue' project in Powai. The contract is awarded by BSS Property Ventures and Rajeshwar Property Ventures, backed by Brookfield Properties. This order is crucial for the company's restructuring and boosts its order book.
The order value of ₹71.30 Crore is substantial and provides good revenue visibility, contributing positively to the company's restructuring efforts and order book.
The company secured a significant new order, which is viewed as a positive development for its financial and operational restructuring and future growth prospects.
Supreme Infrastructure India Limited (SIIL) has announced the receipt of a Letter of Intent (LOI) for excavation and shore piling works for the 'One Forest Avenue' project in Powai, Mumbai.
The contract, valued at ₹71.31 Crore, has been awarded by M/s BSS Property Ventures Private Limited and M/s Rajeshwar Property Ventures Private Limited, companies promoted by the Sharma family with Brookfield Properties as a major stakeholder.
The project scope includes excavation of 450,000 Cubic Meters of soil and rock, and installation of 300 mm diameter shore piling to an average depth of 15 meters, along with rock anchoring.
Mr. Vikram Sharma, Managing Director of SIIL, stated that this contract is a testament to the company's specialized expertise in complex foundation and piling works and a significant milestone in capturing high-value projects. The company views this as a crucial step in its ongoing financial and operational restructuring, which will boost its order book and revenue visibility.
This win is expected to strengthen SIIL's credentials in the commercial real estate development sector and pave the way for securing future large-scale contracts, demonstrating renewed financial stability and operational capability.
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Supreme Infrastructure India 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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