Ircon JV wins ₹763.10 Cr order for Agartala Smart Grid
Ircon International Limited, in a joint venture with Badri Rai & Company, has secured a ₹763.10 crore order from Tripura State Electricity Corporation Limited for the Agartala Smart Grid project. The joint venture, operating in a 26:74 ratio with Badri Rai & Company as the lead partner, involves the design, engineering, and commissioning of an underground power cable network and smart grid applications. The total contract value is ₹763,10,28,794, with Ircon's share amounting to ₹198,40,67,486.40, and the project is to be executed within 24 months.
*this image is generated using AI for illustrative purposes only.
Ircon International Limited , in a joint venture with Badri Rai & Company, has secured a ₹763.10 crore order from Tripura State Electricity Corporation Limited (TSECL) for the Agartala Smart Grid project. The contract involves the design, engineering, supply, and commissioning of an underground power cable network and smart grid applications in the Agartala Municipality Area. The project is scheduled to be executed within 24 months from the date of the award.
The joint venture partners operate in a 26:74 ratio, with Badri Rai & Company acting as the lead partner. The total contract value, including GST, stands at ₹763,10,28,794, while Ircon's share is valued at ₹198,40,67,486.40. The order was awarded by a domestic entity and does not involve any related party transactions or interests from the promoter group.
Contract Details
The following table outlines the key parameters of the awarded contract:
| Particulars: | Details |
|---|---|
| Name of Client | Tripura State Electricity Corporation Limited (TSECL) |
| Nature of Order | Works Contract -1(63)/GM(Tech)/TSECL/2026-27/C-302244/90-101 |
| Date of Order | 22.06.2026 |
| Execution Period | 24 Months |
| Total Contract Value | ₹763,10,28,794 (Including GST @ 18%) |
| Ircon's Share (26%) | ₹198,40,67,486.40 |
| Partner's Share (74%) | ₹564,69,61,307.60 |
The filing was made to the exchanges pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The event occurred on June 22, 2026.
Project Scope
The scope of work encompasses a comprehensive smart grid setup, including the establishment of an underground power cable network for High Tension (HT) and Low Tension (LT) lines. The project integrates advanced technologies such as Supervisory Control and Data Acquisition (SCADA), Advanced Distribution Management System (ADMS), and Outage Management System (OMS). Additionally, the contract covers GIS mapping, the laying of Optical Fiber Cable (OFC) for underground communication, and integration with third-party IT applications like billing and ERP systems. The establishment of a Smart Grid Control Centre, including main and backup facilities with Distribution Network Automation (DNA), is also part of the mandate.
Historical Stock Returns for Ircon International
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.11% | -4.66% | -4.78% | -21.41% | -33.21% | +180.96% |
How will the successful execution of the Agartala Smart Grid project influence Ircon's ability to secure similar smart city infrastructure contracts in other Indian states?
What are the potential margin implications for Ircon given its minority 26% stake in the joint venture versus the operational risks involved?
Could this project serve as a benchmark for future public-private partnership models in the power distribution sector?
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