DEE Development Secures Rs 2,065.5 Million Contract From Maharatna PSU

03 Jun 2026 CW Team

DEE Development Engineers (DDEL) added 2.47 per cent to Rs 640 after the company said that it had secured contracts aggregating to Rs 206.55 crore from a Maharatna public sector EPC conglomerate in the power sector. The value of the contracts amounts to 2,065.5 million (mn), reflecting sizeable orders for specialised piping assemblies. The stock movement followed the announcement as markets reacted to the new order.

The company said it had received a Letter of Intent for the manufacture and supply of critical piping assemblies for the main steam package and hot reheat systems. The project timeline stipulated delivery of the first two units within six to 12 months of receiving the purchase order, with the remaining two units scheduled within 12 to 15 months post purchase order. The contracts cover engineering, procurement and manufacturing elements integral to the package.

DDEL provides specialised process piping solutions for oil and gas, power, process industries and chemicals through engineering, procurement and manufacturing services. In the fourth quarter of FY26 the group reported a year on year fall in consolidated net profit of 11.11 per cent to 280.1 mn, while revenue from operations rose 26.26 per cent to 3,615.7 mn over the fourth quarter of FY25. The recent orders are expected to bolster execution activity and contribute to the company's order book as it progresses deliveries.

Management indicated that receipt of the purchase order would set detailed delivery schedules and cash flow realisation, and the LOI marks a key step in finalising those terms. Investors continued to monitor execution timelines and profitability metrics as DDEL advances the work scope for a major power sector client. The firm remains engaged in fulfilling contractual milestones within the stipulated timeframe while managing operational and supply chain requirements.

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