Airfloa Rail Technology has secured a Rs 229.1 million (mn) contract from BEML to supply lighting systems for metro coaches under Phase II of the Chennai Metro Rail Project. The scope covers design, manufacture, supply, testing and commissioning of lighting systems together with a two year CMC spares and tools package for metro cars. Execution is scheduled to begin with supplies from November 2026 and completion is expected within 17 months.

The contract includes a payment term of 100 per cent within 45 days from the date of respective supplies and stipulates inspection by BEML at its Bengaluru facility. The company described the order as a domestic contract that does not constitute a related party transaction and confirmed that promoters and promoter group entities have no interest in the awarding authority. Airfloa will commence mobilisation and project planning ahead of supply dates.

Airfloa Rail Technology is primarily engaged in the manufacture of components used in rolling stock for Indian Railways and undertakes turnkey interior furnishing projects for the railways. The company also makes intricate components for the aerospace and defence sectors and supplies both domestic railway factories and global rolling stock original equipment manufacturers. For the year ended 31 March 2025 the company reported revenue from operations of Rs 1,923.9 mn and a net profit of Rs 255.6 mn.

Shares of Airfloa Rail Technology fell one point eight eight per cent to trade at Rs 276.95 on the BSE following the announcement. BEML, a multi-technology Schedule A company under the Ministry of Defence that operates across defence and aerospace, mining and construction, and rail and metro verticals, had a Government of India holding of 54.03 per cent as of 31 December 2025. The vendor reported a consolidated net loss of Rs 223.8 mn in Q3 FY26 against a net profit of Rs 244.1 mn in the year earlier quarter while revenue from operations rose by 23.69 per cent year on year to Rs 10,832.7 mn for the quarter.