Soma Textiles Wins ₹343.95 Cr Construction Orders for Expressway Projects
Soma Textiles & Industries Limited has received two major construction work orders totaling ₹343.95 crores from its parent company, Roadways Solutions India Infra Ltd. The larger order, valued at ₹281.18 crores, is for an expressway connector in Maharashtra, while the smaller order of ₹62.77 crores is for an eight-lane expressway in Gujarat. Both projects have a 12-month execution timeline. The orders are related party transactions but conducted on an arm's length basis.
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Soma Textiles & Industries Limited has secured two major construction work orders worth a combined ₹343.95 crores from Roadways Solutions India Infra Ltd, marking a significant business development for the company's infrastructure division.
Order Details and Project Specifications
Soma Textiles & Industries has received construction contracts for two distinct expressway projects across different states. The larger contract involves the construction of an Access Controlled Expressway Connector to Hindu Hrudaysamrat Balasaheb Thackeray Maharashtra Samrudhi Mahamarg, connecting Jalna to Nanded in Maharashtra. The second project focuses on developing an Eight Lane Access Controlled Expressway in Gujarat.
| Project Details | Maharashtra Project | Gujarat Project |
|---|---|---|
| Contract Value | ₹281.18 crores | ₹62.77 crores |
| Project Type | Access Controlled Expressway Connector | Eight Lane Access Controlled Expressway |
| Location | Jalna to Nanded, Maharashtra | Gujarat State |
| Execution Timeline | Within 12 months | Within 12 months |
Related Party Transaction Structure
The orders have been awarded by Roadways Solutions India Infra Ltd, which serves as the holding company of Soma Textiles & Industries Limited. Roadways Solutions holds 56.68% of the paid-up equity share capital of the company, establishing a clear parent-subsidiary relationship.
The promoter connection extends beyond the corporate structure, with Mr. Ameet Harjinder Gadhoke and Mrs. Teja Ranade serving as promoters of both the awarding entity (Roadways) and Soma Textiles & Industries Ltd. Despite this related party nature, the company has confirmed that both transactions have been entered into on an arm's length basis.
Project Execution Framework
Both construction projects will be executed according to the terms of contract along with applicable standards and specifications agreed between the parties. The Maharashtra project involves the execution and construction of the expressway connector as part of the larger Maharashtra Samrudhi Mahamarg network, while the Gujarat project focuses on developing modern eight-lane expressway infrastructure.
Regulatory Compliance and Disclosure
The order announcement was made in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure follows the requirements under Regulations 30(3) and 30(4) read with Para B, Part A of Schedule III of SEBI Listing Regulations, ensuring transparency for stakeholders.
The company has provided comprehensive details as mandated under Regulation 30 read with Schedule III-Para A(7B) of Part A of the SEBI Listing Regulations, 2015, along with relevant SEBI circulars.
