State-owned engineering firm IRCON International Limited announced on Friday, 18 July, that it has secured three major infrastructure contracts worth over Rs 1.87 billion. The awards include two contracts for Mumbai Metro projects from the Mumbai Metropolitan Region Development Authority (MMRDA) and one railway project in Madhya Pradesh from Rail Vikas Nigam Limited (RVNL).

IRCON received a Letter of Award from RVNL for a railway infrastructure project valued at Rs 756 million (inclusive of GST) in Madhya Pradesh. The contract was awarded to the IRCON–JPWIPL joint venture, where IRCON holds a 70 per cent stake. IRCON’s share amounts to Rs 529 million, including GST.

The project involves construction of roadbeds, minor bridges, buildings, track installation (excluding supply of rails, sleepers and thick web switches), as well as civil and electrical works for a new broad-gauge line between Pipaliya Nankar (excluding) and Budni (including) in the Indore–Budni section of the West Central Railway. The contract will be executed over 36 months with an additional six-month defect liability period.

Separately, MMRDA awarded IRCON the CA-239 contract for Mumbai Metro Line-5, Package-2. The scope includes design, manufacture, supply, installation, integration, testing, and commissioning of a 220 kV receiving substation, cabling works (220 kV, 33 kV, and 25 kV), a full 25 kV overhead catenary system with switching stations, auxiliary power distribution, SCADA system, electrical and mechanical works, as well as lift and escalator installation.

This contract is valued at Rs 471 million and €2.84 million, inclusive of all taxes except GST and customs duty. The build period is 108 weeks, followed by two years of defect liability and five years of comprehensive maintenance.

In another MMRDA contract, IRCON was awarded CA-233 for Mumbai Metro Line-6, Package-2. This involves power supply and traction, electrical and mechanical works, lifts, and escalators, with five years of maintenance following a two-year defect liability period. The contract value is Rs 642 million and €2.79 million, inclusive of applicable levies, excluding GST and customs duty. The project completion timeline is 104 weeks.

Shares of IRCON International Ltd closed at Rs 187, down Rs 2.75 or 1.45 per cent on the Bombay Stock Exchange.

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