Navkar Corporation has received a Letter of Acceptance (LOA) from the Office of the Senior Divisional Commercial Manager, Commercial Department, Salem, Southern Railway, Tamil Nadu, for the construction and operation of a Gati Shakti Multi-Modal Cargo Terminal. The proposed terminal will be developed entirely on railway land at Kulipalaiyam station, in the Uttukuli-to-Tiruppur section.

The domestic contract covers both construction and operation of the terminal. The company said the detailed terms and conditions would be governed by an agreement to be entered into with Southern Railway’s Salem Division. The LOA was received at around 3 p.m. on October 13, 2026, according to the regulatory disclosure.

Navkar Corporation is required to complete construction within 18 months from the later of the date on which approval for construction is granted or the railway land is handed over. The land will be licensed for 35 years. The filing described the project as a contract awarded by a domestic entity and identified the Salem office of Southern Railway as the awarding authority.

The broad consideration for the contract is approximately Rs. 480 mn, although the final amount may vary according to the terms of the agreement. The company’s disclosure did not specify any additional financial conditions beyond those to be incorporated in the agreement. This consideration relates to the stated scope covering construction and operation of the terminal.

Navkar Corporation said neither its promoter or promoter group nor its group companies had any interest in the entity awarding the contract. It also stated that the contract would not fall within related party transactions. The disclosure was submitted under Regulation 30 of the SEBI Listing Regulations and included details required under the amended rules and the SEBI master circular dated January 30, 2026. The submission was signed by Deepa Gehani, company secretary and compliance officer.