Monarch Surveyors & Engineering Consultants Limited has announced securing its largest contract to date, worth Rs. 1,30,00,42,245.88 from Northern Railway - CALA for comprehensive railway infrastructure consultancy services. The company disclosed this significant business development under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The company currently maintains a market capitalization of Rs. 310 crore.

Contract Details and Strategic Significance

The rate contract represents the largest order secured by the company till date, significantly scaling up its order book and strengthening multi-year revenue visibility. The comprehensive scope covers Final Location Survey (FLS), geotechnical investigations, design, preparation of drawings and other preliminary activities required for Detailed Project Reports (DPR), land acquisition and EPC tender documentation.

Project Scope and Service Portfolio

The contract involves comprehensive preliminary activities for preparation of Detailed Project Reports (DPR), land acquisition support, and EPC tender document preparation. The assignment includes facilitation support to the Competent Authority for Land Acquisition (CALA) for railway projects across multiple infrastructure categories:

• New line construction projects
• Bypass and chord line development
• Railway doubling and multi-tracking initiatives
• Flyover construction projects
• Land acquisition facilitation services

Management Commentary and Business Impact

Commenting on the development, Mr. Sunil Kokare, Director - Business, Monarch Surveyors and Engineering Consultants Limited, stated: "This order from Northern Railway, being the largest order secured by the Company to date, marks a significant milestone in Monarch's growth journey. It reinforces our strong capabilities in railway infrastructure consultancy and our ability to execute large-scale, integrated assignments."

Regulatory Framework and Execution Timeline

The contract work is subject to necessary approvals from governmental authorities as part of the standard regulatory compliance process. The entire project scope is scheduled for completion within 36 months from the date of issue of Letter of Acceptance, providing healthy visibility for the near to mid-term future.

The announcement was made through official communication to BSE Limited, with Managing Director Dattatraya Mohaniraj Karpe signing the disclosure document. The company has also made this information available on its official website at www.monarchconsultants.in as part of its transparency and disclosure obligations.

Monarch Surveyors & Engineering Consultants Limited board of directors has approved the execution of a binding agreement for the acquisition of 100% equity share capital of GM & FE Ryan Pty Ltd, Australia, marking the company's strategic entry into the Australian engineering market. The announcement was made through an official press release filed under Regulation 30 of SEBI LODR Regulations 2015.

Acquisition Overview

The target company, GMR Engineering Services, operates through GM & FE Ryan Pty Ltd (ACN: 085 586 910) as trustee of the GMR Engineering Services Unit Trust. Based at 164 Maude Street, Shepparton, Victoria 3630, Australia, the company employs 12 full-time staff and specializes in engineering consulting and land surveying services.

Financial Performance and Valuation

GMR Engineering Services demonstrates consistent financial performance with steady revenue growth over recent years. The company maintains a debt-free status with 100% owned assets.

Acquisition Terms and Consideration

The transaction involves entirely cash consideration with no share swap or convertible instruments. The total acquisition cost is structured across multiple components.

Strategic Rationale and Management Commentary

The acquisition aligns directly with Monarch's main line of business as outlined in its Memorandum of Association. GMR provides eight integrated engineering disciplines including civil & structural engineering, land surveying, drone/UAV surveying, GIS & asset management, water engineering, environmental engineering, sustainability services, and project management.

Commenting on the development, Mr. Sunil Kokare, Director - Business, Monarch Surveyors and Engineering Consultants Limited, stated: "This proposed acquisition marks an important strategic milestone for Monarch as we take our first step towards international expansion. The target entity operates within our core line of business and brings strong capabilities in engineering consulting, land surveying and geospatial services, along with an established presence in the Australian market."

Key strategic benefits include:

• Immediate access to 7 Australian Government procurement panels
• 80% client retention rate demonstrating strong market position
• 12 qualified full-time employees and AUD 310,700.00 in owned technology assets
• Established platform for Monarch's Australian operations expansion

Regulatory Approvals and Timeline

The acquisition requires specific regulatory approvals under Indian and Australian frameworks. Key requirements include RBI/AD Bank ODI Form Part I filing under FEM (Overseas Investment) Rules, 2022, before fund remittance, and BSE SME disclosure under SEBI LODR Regulations 2015.

The transaction does not constitute a related party transaction, with no promoter or promoter group companies having any direct or indirect interest in the target entity. Funding will be sourced from internal accruals post-IPO listing and/or specific bank acquisition term loans, with IPO net proceeds not being utilized for this acquisition. The transaction is expected to be completed by May 2026, subject to regulatory approvals and completion of due diligence.