SPML Infra Limited , a leading water infrastructure development company in India, has announced a significant new project win under the Jal Jeevan Mission. The company, in a joint venture with Shree Hari Infraprojects Private Limited, has been awarded a contract worth Rs. 207.38 crore (inclusive of GST) by the Public Health Engineering Department (PHED) of Jhalawar, Rajasthan.

Project Details

The project, part of the Nonera Water Supply Project, aims to strengthen water supply infrastructure across the Kota-Bundi region in Rajasthan. Here are the key aspects of the project:

Infrastructure Development

The project involves comprehensive construction works, including:

• 3 intake wells
• 3 water treatment plants with a combined capacity of 118 MLD
• 3 clear water reservoirs totaling 16.1 million litres
• 52.6 km of pipelines (600-1300mm diameter)
• Installation of PLC and SCADA systems

This infrastructure development is expected to provide functional household tap connections, ensuring clean drinking water facilities for the local population.

Company Financial Context

While this new project represents a significant opportunity for SPML Infra, it's important to consider the company's recent financial position. Based on the latest available balance sheet data:

The company has shown improvement in its financial position, with increases in total assets and a significant boost in total equity. The reduction in current liabilities also suggests improved short-term financial health.

This new project aligns with SPML Infra's core competency in water infrastructure development and could contribute positively to the company's future financial performance. However, investors should continue to monitor the company's execution capabilities and financial management as it takes on this substantial new contract.

The Jal Jeevan Mission project not only represents a business opportunity for SPML Infra but also contributes to the broader goal of providing safe and reliable drinking water across India. As the project progresses, it will be interesting to see how it impacts both the local communities and SPML Infra's market position in the water infrastructure sector.

SPML Infra Limited has seen an increase in its promoter group's shareholding as SPML India Limited acquired additional shares through a preferential allotment. The transaction, which took place on November 20, 2025, involved the acquisition of 21,08,637 equity shares of SPML Infra Limited.

Key Details of the Transaction

Impact on Ownership Structure

The preferential allotment has resulted in a slight increase in SPML India Limited's ownership stake in SPML Infra Limited. This move is consistent with strategies often employed by promoter groups to strengthen their position within a company.

Changes in SPML Infra's Capital Structure

As a result of this preferential allotment, SPML Infra Limited's total equity capital has expanded. The number of outstanding shares has increased from approximately 7.23 crore to 7.55 crore, representing a dilution for existing shareholders.

Regulatory Compliance

This transaction falls under the purview of SEBI regulations, specifically the Substantial Acquisition of Shares and Takeovers Regulations, 2011. As per these regulations, the acquirer (SPML India Limited) is required to disclose such acquisitions to the stock exchanges and the target company (SPML Infra Limited) when there are significant changes in shareholding.

Market Implications

While the increase in shareholding is relatively small, it may be viewed as a sign of the promoter group's confidence in SPML Infra Limited's prospects. However, investors should note that preferential allotments can have a dilutive effect on earnings per share in the short term.

Shareholders and potential investors in SPML Infra Limited may want to monitor any further announcements from the company regarding the use of proceeds from this preferential allotment.