IRCON Secures Rs 10.96 Bn EPC Contract for Meghalaya Secretariat

20 Mar 2025 CW Team

IRCON International Ltd, a state-owned engineering and construction firm, has won an Engineering, Procurement, and Construction (EPC) contract worth Rs 10.96 billion in joint venture with Badri Rai and Company (BRC). The contract has been awarded by the Directorate of Urban Affairs, Government of Meghalaya, for the construction of a new Secretariat Complex in New Shillong City.

Project Details Joint Venture Structure: BRC: 74% stake (Rs 8.11 billion ) IRCON: 26% stake (Rs 2.85 billion) Scope of Work: Construction of Secretariat Complex and campus infrastructure Project Timeline: 36 months Financial Performance of IRCON Q3FY25 Net Profit: Rs 860 million (65% YoY drop from Rs 2.44 billionin Q3FY24) Revenue from Operations: Rs 26.12 billion(10% decline from Rs 29.29 billion in the previous year) EBITDA: ?218.3 crore (down from Rs 3.78 billion in Q3FY24) Order Book (as of Dec 31, 2024): Rs 219.39 bilion Despite recent financial challenges, this contract reinforces IRCON’s strategic expansion in urban infrastructure projects, solidifying its position in India’s construction and engineering sector.

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