Vikran Engineering Secures ₹530.80 Crore MSEDCL Orders for Power Distribution
Vikran Engineering Limited received two LOAs totaling ₹530.80 Crore from MSEDCL for power distribution infrastructure development in Nashik and Kolhapur zones. The contracts, to be completed within 21 months each, are part of an ADB-funded program. This significantly strengthens the company's order book.
The order value of ₹530.80 Crore is substantial and will significantly boost the company's order book and revenue.
The company has secured significant new orders, which is a positive development for its business and future growth prospects.
Vikran Engineering Limited (VEL) has announced the receipt of two Letters of Award (LOAs) totaling ₹530.80 Crore (excluding GST) from Maharashtra State Electricity Distribution Company Limited (MSEDCL). These orders are for the Development of Distribution Infrastructure & System Strengthening works in the Nashik Zone and Kolhapur Zone of Maharashtra.
The Nashik Zone contract is valued at ₹235.63 Crore, and the Kolhapur Zone contract is valued at ₹295.17 Crore, both excluding GST. These projects are funded by the Asian Development Bank (ADB) under the Power Distribution Enhancement Program and were awarded through National Competitive Bidding.
The scope of work for both contracts is on a turnkey basis, encompassing all phases from site survey, design, engineering, manufacturing, supply, installation, to commissioning. Key deliverables include substations, transmission lines, augmentation of power transformers, distribution transformers, and GIS Mapping. Each contract has a completion timeline of 21 months from the respective LOA date.
Rakesh Markhedkar, Chairman and Managing Director of Vikran Engineering Limited, stated that these orders validate the company's technical capabilities and execution track record in large-scale power distribution infrastructure. He added that these orders significantly strengthen the company's order book and position it for sustained growth in contributing to Maharashtra's power infrastructure development.
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Vikran Engineering 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 high impact, which is the band that most often changes something.
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