Desco Infratech Limited (Desco) has received a Letter of Acceptance from Indian Oil Corporation Limited (IOCL) for the execution of last mile connectivity and related works in the Vizag geographic area in the state of Andhra Pradesh. The contract covers empanelment of contractors under a zonal rate contract for Last Mile Connectivity, galvanised iron installation and Direct Marketing Agency works. The award follows the company's earlier intimation that it had emerged as the L1 bidder on 13 August 2026.

The firm notified the stock exchange under Regulation 30 of the SEBI listing obligations and disclosure requirements and specified that the broad consideration for the order is Rs 30,290,271 inclusive of goods and services tax. This amount represents Rs 30.29 million (mn). The assignment will be executed as per the contract terms and schedule. The order was placed by a domestic public sector undertaking and the engagement relates to operational execution rather than capital investment.

The company confirmed that neither the promoter nor the promoter group or group companies have any interest in the entity awarding the contract and that the transaction does not amount to a related party transaction. The compliance officer recorded the particulars of the Letter of Acceptance with the listing department and updated statutory records. The award enhances the company's project portfolio in the fuel retail infrastructure segment within the region and adds to its current order book.

The company indicated that execution will follow the standard terms laid down under the zonal rate contract and that the schedule will be governed by milestone provisions in the agreement. The company secretary and compliance officer signed the formal intimation addressed to the listing authority to ensure regulatory compliance. The filing outlined the salient terms in brief and reiterated that the consideration stated is inclusive of applicable taxes and duties as prescribed under the contract.