Mumbai, June 26 -- Bondada Engineering has secured a contract worth Rs 13,380 million (mn) from NTPC Renewable Energy, the company said. The firm reported that the award relates to renewable energy works and represents a material addition to its project portfolio. The value translates the original figure of 1,338 crore into a standardised reporting unit to aid investor comparability. The announcement was made via a regulatory filing in line with disclosure norms.
The contract will span several phases and will involve engineering and execution tasks, the company added. Management indicated that mobilisation and project scheduling will commence promptly to align with contractual milestones. Bondada Engineering noted that the order will contribute to its near term workload and contractual revenues without detailing exact timelines or segmental margins. The firm confirmed that it will update stakeholders through subsequent filings as the project progresses.
The award is one among recent large assignments in the renewable sector that reflect sustained project activity and capital deployment. Market participants view such contracts as supportive of sector momentum and of specialist engineering firms that provide project delivery capabilities. The company observed that compliance with technical and regulatory requirements will be central to successful execution and to meeting client commitments. Contractors in the sector have increasingly focused on capacity to handle complex grid integration and storage requirements.
Bondada Engineering reaffirmed its commitment to adhere to regulatory and environmental standards in project delivery and to provide periodic updates to investors. The company indicated that further operational and financial details will be disclosed in its forthcoming quarterly results and regulatory filings. This contract is a significant component of the firm's current order book and will influence its revenue mix over the contract period.
Published by HT Digital Content Services with permission from Construction World.