Latest news with #IrconInternationalLimited
Business Upturn
18-07-2025
- Business
- Business Upturn
Ircon bags Rs 642 crore Mumbai Metro Line-6 contract from MMRDA
Ircon International Limited announced on Friday that it has received a Letter of Acceptance (LOA) from the Mumbai Metropolitan Region Development Authority (MMRDA) for a significant contract under Mumbai Metro Rail Project's Line-6. The contract, valued at approximately ₹642.44 crore and €2.79 million (inclusive of all taxes and charges except GST and customs duty), involves the design, manufacture, supply, installation, integration, testing, and commissioning of power supply and traction systems, E&M, lifts and escalators. The scope of work also includes five years of comprehensive maintenance after a two-year defect liability maintenance period. The project is to be executed over a design-build period of 104 weeks, followed by the maintenance phases. Advertisement The work pertains to Package-2 of Line-6 (Swami Samarth Nagar to Vikhroli EEH) of the Mumbai Metro, and has been awarded by a domestic entity. Ircon clarified in its filing that neither its promoters nor group companies have any interest in MMRDA, and the transaction does not qualify as a related-party transaction. This contract underscores Ircon's continued presence in the infrastructure and urban transport sector, building on its track record of executing complex metro and railway projects across India. Disclaimer: The information provided is based on the company's stock exchange filing and is for informational purposes only. It should not be construed as investment advice. Please consult your financial advisor before making any investment decisions.
&w=3840&q=100)
Business Standard
21-05-2025
- Business
- Business Standard
Why did Ircon International share price rise 3% on Wednesday, May 21?
Ircon International share price: Shares of Ircon International popped 2.96 per cent to hit an intraday high of 193.80 per share on Wednesday, May 21, 2025, At 1:00 PM, Ircon International shares were trading 7.81 per cent higher at Rs 149.05. In comparison, BSE Sensex was trading 0.70 per cent higher at 74,86.06 levels. Why did the share price rise? The uptick in Ircon International share price came after the company secured a contract from South Western Railway worth about Rs 254 crore. Ircon International, via an exchange filing said, 'it is to inform that South Western Railway, Indian Railway has awarded the work to Ircon International Limited for survey, design, supply, installation, testing and commissioning of Kavach equipment and other associated works over 778 RKM of Bengaluru and Mysuru Divisions of South Western Railway.' Under the terms of the award, Ircon International will be responsible for survey, design, supply, installation, testing and commissioning of Kavach equipment and other associated works over 778 RKM of Bengaluru and Mysuru Divisions of South Western Railway. The contract is expected to be executed in 18 months from the date of issue of LOA. Ircon International results Ircon International is expected to release its March quarter (Q4FY25) results today. It reported a 64.8 per cent Y-o-Y fall in net profit to Rs 86.1 crore in Q3FY25, from Rs 244.7 crore in Q3FY24. The company's revenue jumped 10.8 per cent Y-o-Y to Rs 2,612.9 crore in Q3FY25, from Rs 2929.5 crore a year ago (Q3FY24). About Ircon International Established in 1976 under the Indian Companies Act 1956 by Indian Railways, Ircon International Limited (Ircon) is an engineering and construction corporation specialising in transport infrastructure. The company specialises in turnkey construction services, including railways (new lines, rehabilitation/conversion, stations, bridges, tunnels, signalling, electrification, and locomotive leasing), highways, EHV sub-station projects, and metro rail systems. Over the years, it has diversified into various segments of transport and infrastructure development.
