Monarch Surveyors and Engineering Consultants has secured a Letter of Acceptance from the Maharashtra Maritime Board for a contract worth Rs 21.7 million (mn) to prepare a detailed project report for the proposed Marine Shipyard Cluster at Dighi in Raigad district. The scope of work will include geotechnical investigation and topographic survey services alongside the DPR development and the assignment has been awarded on a cash consideration basis. The contract is subject to obtaining approvals from relevant government authorities and will be executed in accordance with the terms specified in the Letter of Acceptance.

The company has clarified that the transaction does not qualify as a related party transaction and that neither its promoters nor promoter group entities have any interest in the contract. Monarch Surveyors provides end-to-end consultancy services for infrastructure projects covering survey, design and technical supervision for roads, railways and metro systems as well as town planning, geospatial mapping, land acquisition, water projects, transmission lines, pipelines and other civil engineering sectors. The breadth of services positions the firm to manage the multidisciplinary requirements of a major maritime infrastructure assignment and to coordinate specialist investigations and technical deliverables.

In its financial update the company reported a 16.1 per cent rise in standalone net profit to Rs 348.3 million (mn) on a 10.5 per cent increase in revenue to Rs 1.5414 billion (bn) in FY25 compared with FY24. The gains reflected operational expansion and higher project inflows across the company's service lines and signalled a strengthening of its financial position. The market reacted to the announcement and the counter rallied four point nine seven per cent to Rs 218.45 on the BSE, indicating investor interest in the stock.

The DPR will aid regional maritime infrastructure and ancillary activity. Execution will proceed under the LoA and requisite approvals.