Innovators Facade Systems Limited has secured a major work order valued at ₹57.63 crores (excluding taxes) from Avante Spaces Limited for facade works at a mixed-use development project in Kothrud, Pune. The company disclosed this material information to BSE Limited, in compliance with SEBI listing regulations.

Project Details and Scope

The awarded contract covers comprehensive facade solutions for the mixed-use development project located in Kothrud, Pune. The work scope includes design, supply and installation of facade and allied works, including Building Maintenance Unit (BMU) works on a Nominated Sub-Contractor (NSC) basis.

Contract Terms and Timeline

The order has been awarded by a domestic entity, Avante Spaces Limited, and carries an expected completion period of 12 calendar months from the date of commencement. This timeline indicates a substantial project scope that will contribute to the company's revenue stream over the next year.

Regulatory Compliance

The company has confirmed that the promoter/promoter group/group companies have no interest in the entity that awarded the order. Additionally, the transaction does not fall within the definition of a related party transaction as specified under the provisions of the Companies Act, 2013.

Company Information

Innovators Facade Systems Limited, with its head office located in Thane, Maharashtra, specializes in facade systems and related construction works. The company operates a factory in Kudus, Palghar, Maharashtra, and maintains its corporate identification number as U45200MH1999PLC120229.

Innovators Facade Systems Limited has announced securing a major order worth ₹576.30 crores, marking a significant business development for the construction sector company. This substantial contract represents a notable milestone in the company's ongoing operations and demonstrates its competitive position in the facade systems market.

Order Details

The company has successfully secured this large-scale order, which adds considerable value to its project portfolio. The contract worth ₹576.30 crores reflects Innovators Facade Systems' ability to attract substantial projects in the specialized facade systems segment.

Business Impact

This significant order win strengthens Innovators Facade Systems' position in the construction industry, particularly in the facade systems segment. The substantial contract value indicates strong market demand for the company's specialized services and solutions.

The order represents a major addition to the company's order book and demonstrates its continued ability to secure large-scale projects. This development reflects positively on the company's business prospects and operational capabilities in delivering complex facade system solutions.

Company Profile

Innovators Facade Systems Limited operates in the construction sector, specializing in facade systems solutions. The company is classified as a Small Cap entity with a market capitalization of ₹367.92 crores.