Krystal integrated services Limited has announced the incorporation of a wholly owned subsidiary to execute a municipal waste management contract. The new entity, Krystal Waste Work Prabhag G Private Limited, was incorporated on January 20, 2026, under the Corporate Identification Number U37003MH2026PTC466214 in Maharashtra.

Subsidiary Details and Capital Structure

The newly incorporated subsidiary has been established with specific capital requirements and operational mandates:

Municipal Contract Requirements

The subsidiary was incorporated following the receipt of Letter of Acceptance No. 1895/2025 dated December 15, 2025, from Vasai Virar Municipal Corporation. The contract encompasses comprehensive waste management services for Prabhag G over a 5-year period. One of the key conditions stipulated in the Letter of Acceptance required the company to establish a Special Purpose Vehicle (SPV) to serve as the designated concessionaire for contract execution.

The waste management services include door-to-door collection, segregation, and transportation of municipal solid waste, along with street cleaning activities. All operations must comply with the Solid Waste Management Rules 2016, ensuring adherence to regulatory standards for municipal waste handling.

Business Scope and Operations

The subsidiary will operate in the waste management industry with an extensive range of services:

• Collection, segregation, transportation, and disposal of various waste categories
• Municipal waste, biodegradable and recyclable solid waste management
• Biomedical waste, hazardous waste, and e-waste handling
• Mechanical and manual road sweeping services
• Setup and operation of mechanized refuse transfer stations
• Waste-to-energy projects and waste processing facilities
• Carbon credit trading and environmental compliance services

Corporate Structure and Leadership

Ms. Neeta Prasad Lad and Mr. Shubham Prasad Lad, who serve as Whole-time Directors of Krystal Integrated Services Limited and are promoters of the parent company, have been appointed as the first directors of the wholly owned subsidiary. This structure ensures continuity of leadership and strategic alignment between the parent company and its subsidiary operations.

The incorporation represents a strategic expansion into municipal waste management services, positioning the company to capitalize on growing opportunities in the waste management sector while fulfilling specific contractual obligations with municipal corporations.

Krystal Integrated Services , a leading provider of integrated facility management solutions, announced on 12 January that it has secured three major municipal solid waste management contracts from the Vasai Virar City Municipal Corporation. The comprehensive deal, valued at approximately ₹275 crores, positions the company to serve one of Maharashtra's most rapidly growing urban areas.

Contract Overview and Structure

The agreements encompass a comprehensive range of waste management services for a five-year operational period, preceded by a three-month preparatory phase. The services include door-to-door collection, segregation and transportation of waste, alongside street cleaning operations across the municipal corporation's jurisdiction.

Each zone has been designed to ensure strict compliance with the Solid Waste Management Rules of 2016. The project structure involves deployment of dedicated manpower, specialised vehicles, and modern equipment to fulfil operational requirements.

Service Scope and Operations

The comprehensive waste management solution includes several key components:

• Door-to-door waste collection and segregation
• Transportation of segregated waste to authorised processing facilities
• Street cleaning and maintenance services
• Waste treatment and disposal operations
• Deployment of specialised vehicles and modern equipment

The collected waste will undergo proper segregation before being transported to authorised processing and disposal facilities, ensuring environmental compliance and sustainable waste management practices.

Management Commentary

Sanjay Dighe, CEO and Whole Time Director of Krystal Integrated Services Ltd, commented on the development: "We are proud to have been awarded the Rs. 81 crore, 5-year solid waste management contract from Vasai Virar City Municipal Corporation. The recent order wins underscore Krystal's mission to deliver clean, safe, and dignified environments in institutions serving vulnerable communities."

The company emphasised its commitment to bringing professional facility management practices to improve safety, dignity and hygiene in areas where public services directly impact daily life.

Stock Performance and Company Background

Krystal Integrated Services Limited closed at ₹615.20 on the National Stock Exchange (NSE) on Monday, 12 January 2026, representing a decline of 1.39% or ₹8.70 from its previous trading session. Over the past year, the stock has fallen approximately 6.5% according to NSE data.

Established in 2000 and headquartered in Mumbai, Krystal Integrated Services has expanded its operations nationwide. The company offers integrated facility management, staffing, payroll solutions, security services, and catering solutions across various sectors.

Recent Contract Wins

Last year, the company secured three additional contracts totalling ₹84 crores, demonstrating consistent growth in its order book:

• Airport Authority of India project for managing the new terminal at Patna Airport
• Contract with Maha Mumbai Metro Operation Corporation Ltd
• Agreement with Maharashtra Tourism Development Corporation

These recent contract wins, combined with the current Vasai Virar City Municipal Corporation deal, highlight the company's expanding presence in the municipal and infrastructure services sector.