Deepak builders & engineers India Limited has secured a major breakthrough by emerging as the L1 bidder for a construction project worth ₹474.25 crores from Indian Oil Corporation Limited (IOCL). The company announced this development through a regulatory filing under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, with formal confirmation received through the IOCL eProcurement portal.

Project Details and Scope

The awarded project encompasses the construction of 12 high-rise residential buildings with a G+13 configuration using advanced monolithic construction technology. The comprehensive development will be located adjacent to the existing Panipat Refinery & Petrochemical Complex Township of IOCL in Haryana, designated as Package-I.

Comprehensive Infrastructure Development

The project scope extends beyond residential construction to include essential infrastructure components. The development will feature associated parking facilities designed to serve the residential complex, along with a sewerage treatment plant to ensure proper waste management for the township.

Additionally, the project encompasses utility infrastructure development, internal roadworks, and various amenities that will enhance the overall living experience for residents. This holistic approach demonstrates the company's capability to handle large-scale integrated development projects within institutional and industrial ecosystems.

Enhanced Order Book Position

The successful bidding represents a significant milestone for Deepak Builders & Engineers India Limited's business growth. Upon formal award of this project, the company's total order book will reach approximately ₹2,000 crores, substantially strengthening its project pipeline and enhancing revenue visibility.

Management Commentary

Commenting on the development, the management of Deepak Builders & Engineers India Limited stated that securing L1 status for this strategically significant project reflects their strong technical capabilities, competitive cost positioning, and proven execution track record. The management emphasized that this opportunity not only strengthens their order book but also reinforces their presence in industrial and township infrastructure.

The company remains focused on leveraging advanced construction technologies and delivering high-quality projects, positioning itself to capture emerging opportunities across infrastructure and real estate segments. This win aligns with broader industry tailwinds, including increased investments in refinery expansions, industrial townships, and urban infrastructure development driven by government-led capex and rising energy sector investments.

Deepak builders & engineers India Limited has received enhanced credit ratings from CRISIL Ratings Limited for its bank facilities worth Rs. 637 crore. The company informed the National Stock Exchange and BSE Limited on March 25, 2026, regarding the rating assignment received through CRISIL's letter dated March 24, 2026.

Credit Rating Details

CRISIL Ratings Limited has assigned and reaffirmed ratings for the company's loan facilities, marking a substantial enhancement in the facility amount from the previous Rs. 470 crore to Rs. 637 crore.

Bank-wise Facility Distribution

The total facility amount of Rs. 637 crore is distributed across multiple banks and facility types. Punjab National Bank holds the largest share with fund-based facilities of Rs. 65 crore and significant non-fund based limits totaling Rs. 425 crore. HDFC Bank Limited provides fund-based facilities of Rs. 15 crore, non-fund based limits of Rs. 85 crore, and term loans of Rs. 45.4 crore.

Rating Validity and Surveillance

The rating letter remains valid until March 31, 2026, after which a new rating letter will be required. CRISIL Ratings maintains continuous surveillance of all assigned ratings and reserves the right to withdraw or revise ratings based on new information or changing circumstances. The company must avail the proposed facilities within 180 days from the rating letter date to maintain validity.

Regulatory Compliance

The intimation was made pursuant to Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015. Managing Director Deepak Kumar Singal signed the communication to both stock exchanges, ensuring compliance with disclosure requirements for listed companies regarding material credit rating developments.