Rs 20,973 crore order book: Railway company JV Bags Rs 168.4 Crore Turnkey Contract from Maharashtra State Electricity Transmission

IRCON International Limited announced on October 24, 2025, that its joint venture (JV) has secured a turnkey works contract worth Rs 168.4 crore from Maharashtra State Electricity Transmission Co. Ltd (MSETCL). The disclosure was made following the event at 17:30 hrs on October 24, 2025.

The contract, awarded by MSETCL, involves the Construction of a 220 kV double circuit (D/C) line from the 400/220 kV Koradi-II Substation to the Mankapur Substation (O/H + U/G) under the Nagpur Zone. The total contract value stands at Rs 1,68,40,53,404, excluding GST, and is to be executed within 18 months, excluding the monsoon period.

IRCON has undertaken the project in partnership with Finolex J-Power Systems Limited through a joint venture, where IRCON holds a 51 per cent stake and Finolex J-Power Systems Limited holds 49 per cent. The contract was awarded under tender no. T-2503 (RFx No. 60000013 10) and is dated October 20, 2025.

About the Company

IRCON International Ltd. is a Navratna Public Sector Enterprise and a leading turnkey construction company under the Ministry of Railways. Known for its quality and performance, IRCON's core expertise lies in Railways and Highways, encompassing projects like track construction, electrification, tunnelling and various infrastructure developments, including roads, buildings and metro systems. With a significant presence, IRCON has successfully completed over 130 projects in 25 countries globally and 405 projects across India.

Results: For the first quarter of fiscal year 2026 (Q1FY26), Revenue from Operations was reported at Rs 1,786.30 crore, a decrease of Rs 22 per cent from Rs 2,287.10 crore in Q1FY25. Profit After Tax (PAT) for the quarter also saw a decline of 27 per cent, standing at Rs 164.10 crore in Q1FY26 compared to Rs 224 crore in the same period last year. Looking at the full fiscal year 2025 (FY25), Revenue from Operations was Rs 10,193.10 crore, down from Rs 11,950.40 crore in FY24. Similarly, PAT for the full year was Rs 737.60 crore in FY25, a decrease from Rs 862.90 crore in FY24.

Order Book Update: The total order book as of June 30, 2025, stands at Rs 20,973 crore with railways orders of Rs 15,724 crore, highways orders of Rs 4,234 crore and other orders of Rs 1,015 crore.

IRCON is a PSU company with a market cap of over Rs 17,000 crore. The stock gave multibagger returns of 325 per cent in just 3 years whereas the BSE Sensex Index is up by 41 per cent.

Disclaimer: The article is for informational purposes only and not investment advice.