Infrastructure services company, Power Mech Projects Limited, announced on Monday (14 July) that it has secured two operation and maintenance (O&M) contracts worth a total of Rs 5.5 billion (excluding taxes, duties, cess, and GST).

The first contract, valued at approximately Rs 5 billion, was awarded by SJVN Thermal (P) Ltd for commissioning support and comprehensive O&M of the 2 x 660 MW coal-based supercritical Buxar Thermal Power Project located at Chausa in Buxar district, Bihar. The execution period for this contract is 39 months.

The second order, worth Rs 530 million, was received from Jhabua Power Limited, a joint venture of NTPC Limited. It covers the O&M of the boiler, turbine, and generator for a 1 x 600 MW unit in Seoni district, Madhya Pradesh. This contract will run for three years, with a provision for a one-year extension.

Power Mech Projects also reported a 53.8 per cent year-on-year increase in net profit, reaching Rs 1.3 billion in the fourth quarter, up from Rs 844 million in the same period last year.

Revenue rose by 42.4 per cent to Rs 18.5 billion, compared to Rs 13 billion in Q4 FY24, driven by robust execution across core segments. The company’s EBITDA grew by 44.3 per cent to Rs 2.16 billion, with stable margins of 11.6 per cent, compared to 11.5 per cent a year earlier, highlighting effective cost controls.

Shares of Power Mech Projects Ltd closed at Rs 3,227.80 on the BSE, down Rs 82.30 or 2.49 per cent.