Indian Hume Pipe Company Limited announced significant contract wins totaling Rs 461 crores through joint venture partnerships for major irrigation infrastructure projects in Maharashtra. The company disclosed these developments in compliance with SEBI Regulation 30 requirements.

Major Contract Awards

The company secured two substantial orders through strategic joint venture arrangements with different consortium partners:

Project Specifications and Scope

The first major contract involves the Bhagpur Lift Irrigation Scheme Stage 2 and Gravity Pipe Distribution Network (PDN) in Jalgaon district. This project is awarded by the Lift Irrigation Construction Division, Jalgaon, under the Tapi Irrigation Development Corporation (TIDC). The company will execute this project through its joint venture with Prathmesh Construction.

The second contract covers the construction of Ner Lift Irrigation scheme phases 3 and 4 in the Jihe Kathapur area of Satara district. This project is commissioned by the Maharashtra Krishna Valley Development Corporation (MKVDC) and will be executed through a four-party joint venture including S.V. Jadhav Cont. P. Ltd., Indian Hume Pipe Ltd., Yogiraj Power Ltd., and Pruthviraj Desai.

Contract Terms and Structure

Both contracts are structured as percentage rate contracts with domestic entities, ensuring steady revenue streams for the company over the next four years. The projects encompass comprehensive infrastructure development including:

• Construction of lift irrigation systems
• Installation of pipe distribution networks
• Operation and maintenance services for five years post-completion
• Compliance with regulatory requirements excluding GST, royalty, insurance, and crop compensation

Regulatory Compliance

The company confirmed that these contracts do not involve any related party transactions and are executed at arm's length. No promoter or group company interests exist in the awarding entities, ensuring transparent business operations. The disclosure was made pursuant to SEBI regulations and relevant master circulars.

These significant contract wins position Indian Hume Pipe Company strategically in Maharashtra's irrigation infrastructure development sector, with a combined order book addition of Rs 461 crores spread across 48-month execution timelines.

Indian Hume Pipe Company Limited has secured a significant infrastructure contract from the Government of Telangana, marking a major addition to the company's order book. The work order, valued at ₹458.69 crores, focuses on water supply improvement schemes in Greater Warangal Municipal Corporation under UIDF funding.

Project Specifications and Scope

The contract encompasses comprehensive water supply improvement initiatives in Greater Warangal Municipal Corporation. The project has been structured as a percentage contract with a 24-month execution timeline, providing the company with clear revenue visibility through the completion period.

Official Documentation and Timeline

The company formally announced this development through a communication to stock exchanges. The Letter of Acceptance was received from the Public Health & Municipal Engineering Department, Hyderabad, confirming the contract award. The announcement was signed by Niraj R. Oza, Vice President - Company Secretary & Legal, ensuring proper corporate governance protocols.

Regulatory Compliance and Disclosure

The company announced this development through formal communication to BSE Limited and National Stock Exchange of India Limited, complying with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure also adheres to SEBI Circular No.SEBI/HO/CFD/CFD-PoD-1/P/CI-R/2023/123 dated July 13, 2023 and SEBI Master Circular No. SEBI/HO/CFD/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Financial Impact and Strategic Significance

The order value of ₹458.69 crores excludes GST, meaning the total project value will be higher when tax components are factored in. This substantial contract strengthens the company's order book and provides revenue certainty over the next two years. The project represents a domestic contract with no related party transactions or promoter group interests involved.

This major government contract reinforces Indian Hume Pipe Company's established presence in the water infrastructure sector, particularly in government-funded urban development projects across Indian states.