PSP Projects has secured a major contract from BNCMC (Brihanmumbai Municipal Corporation) worth ₹614.40 crores, representing a significant business development for the construction and infrastructure company. This substantial order addition strengthens the company's project pipeline and demonstrates its continued success in winning large-scale municipal contracts.

Contract Details

The contract details highlight the scale and importance of this business win for PSP Projects:

Strategic Significance

This contract award from BNCMC represents a notable achievement for PSP Projects in the competitive municipal infrastructure space. The Brihanmumbai Municipal Corporation is one of India's largest and most prominent municipal bodies, making this contract win particularly significant for the company's reputation and market positioning.

The substantial value of ₹614.40 crores indicates the scope and scale of the project, which will contribute meaningfully to PSP Projects' order book and revenue pipeline. Such large municipal contracts typically involve comprehensive infrastructure development work, showcasing the company's capabilities in handling complex public sector projects.

Business Impact

The BNCMC contract represents a major addition to PSP Projects' existing order book, providing revenue visibility and business growth momentum. Municipal corporation projects often serve as reference points for future contract opportunities, potentially opening doors to similar large-scale infrastructure assignments from other civic bodies across India.

This contract win demonstrates PSP Projects' continued ability to compete effectively in the public infrastructure segment and secure substantial orders from prestigious clients. The company's success in winning this BNCMC contract reflects its established track record and technical capabilities in delivering municipal infrastructure projects.

PSP Projects Limited has successfully concluded arbitration proceedings against Bhiwandi Nizampur City Municipal Corporation (BNCMC), securing a significant financial award in its favor. The Arbitral Tribunal pronounced the arbitration award on January 11, 2026, bringing the long-standing dispute to a favorable resolution for the company.

Award Details and Financial Impact

The arbitration award represents a substantial financial victory for PSP Projects Limited. The tribunal's decision encompasses both principal amount recovery and interest provisions designed to ensure timely payment.

The award directs BNCMC to pay the principal amount of ₹61,44,17,413.00 along with interest accrued up to the date of the award within the specified timeframe. Should the respondent fail to make payment within 60 days, they will be liable for additional interest at 11.00% per annum on the total awarded amount plus accrued interest from the award date until actual payment.

Regulatory Compliance and Disclosure

PSP Projects Limited fulfilled its regulatory obligations by disclosing the arbitration outcome under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company's disclosure follows its earlier intimation dated February 02, 2023, which initially informed stakeholders about the commencement of arbitration proceedings.

The company confirmed through its filing that the arbitration award has no adverse impact on its financial position. This positive outcome strengthens the company's financial standing and demonstrates successful resolution of the dispute through the arbitration process.

Conclusion of Proceedings

With the Arbitral Tribunal's pronouncement on January 11, 2026, the arbitration proceedings between PSP Projects Limited and BNCMC have officially concluded. The favorable award represents a significant development for the company, providing clarity on the disputed matter and securing substantial financial recovery. The company's proactive disclosure ensures transparency with stakeholders while maintaining compliance with regulatory requirements.