The project involves providing, laying and jointing internal and peripheral sewer lines in Tikri Kalan GOC under the command of the proposed STP at Tikri Kalan. The order has been awarded by the Office of Executive Engineer (C) DR-XV, Jal Sadan Annexe, Lajpat Nagar, New Delhi.
The contract is a domestic entity award and will be executed over a period of 15 months. The estimated order value stands at ₹158.29 crore, including GST. EMS said the detailed terms and conditions of the order will be as per the contract. The company will provide further updates upon receipt of the Letter of Award for the project.
ALSO READ | EMS wins ₹209 crore sewer projects in Varanasi after emerging lowest bidder
The company also stated that the promoter, promoter group or group companies have no interest in the awarding entity and that the contract does not fall under related party transactions.
In April this year, EMS Ltd announced that it had been declared the lowest bidder (L-1) for two projects from UP Jal Nigam (Urban), Varanasi. The combined estimated order value stands at about ₹208.6 crore (excluding GST).
The projects involve laying of sewer networks and house connections across multiple wards in Varanasi, including surveying, soil investigation, design and supply of materials on a turnkey basis.
ALSO READ | EMS Q3 Results | Net profit surges 35% to ₹51 crore, revenue grows 23%
The first contract, valued at approximately ₹143.8 crore, is to be executed over 24 months, while the second project, worth about ₹64.8 crore, has a timeline of 18 months. The contracts have been awarded by a domestic entity, and the company clarified that they do not involve any related party transactions.
Shares of EMS Ltd ended at ₹402.70, down by ₹16.10, or 3.84%, on the BSE.
(Edited by : Jomy Jos Pullokaran)
