Welspun Enterprises Limited receives PCOD from PWD Maharashtra

Welspun Enterprises Limited has announced the receipt of a letter from PWD Maharashtra (PWD) declaring Provisional Commercial Operation Date (PCOD) w.e.f. November 11, 2021 in respect of the Hybrid Annuity Model (HAM) project Two Laning of Road with paved shoulder under MRIP Package No. AM 2 under Public Works Circle, Amravati in the State of Maharashtra (the Project). With this event, the Company is entitled to receive annuity, interest and O&M payments from PWD every six months in accordance with the provisions of the Concession Agreement.

This is the fifth HAM Road project completed by the Company, with a completion cost of approximately Rs. 1,650 crore. With this completion, of the Company's total HAM road portfolio of 7 projects of around Rs 9,920 crore, 5 projects of Rs 6,250 crore have achieved PCOD/COD and are thereby revenue generating.

Shares of Welspun Enterprises Limited was last trading in BSE at Rs. 94.45 as compared to the previous close of Rs. 94.20. The total number of shares traded during the day was 13795 in over 437 trades.

The stock hit an intraday high of Rs. 95.80 and intraday low of 93.35. The net turnover during the day was Rs. 1310469.00.

Source : Equity Bulls

Keywords

WelspunEnterprisesLimited INE625G01013 WELENT PWDMaharashtra HAMProject ProvisionalCommercialOperation