Supreme Infrastructure India Ltd secures major INR 71.30 Crore Order for One Forest Avenue Project in Powai

Supreme Infrastructure India Ltd. (SIIL), a leading infrastructure development company, today announced it has received a Letter of Intent (LOI) to execute the major Excavation and shore piling works for One Forest Avenue, located in Powai.

The contract has been awarded by M/s BSS Property Ventures Private Limited and M/s Rajeshwar Property Ventures Private Limited, companies promoted by the Sharma family along with Brookfield Properties as the major stakeholder, and is valued at INR 71.31 Crore. This major win solidifies SIIL's leadership in specialized civil engineering and construction within the Mumbai metropolitan region and strengthens its association with world-class development groups.

The detailed scope of the project, situated at the prominent Powai location, involves extensive and complex foundation work. This includes essential excavation of 450,000 Cubic Meters in both soil and rock (weathered and hard). Furthermore, the contract covers the installation of 300 mm diameter shore piling with an average depth of 15 meters, complemented by necessary rock anchoring.

Mr. Vikram Sharma, Managing Director, Supreme Infrastructure India Ltd., said, "We are delighted to have secured the Letter of Intent (LOI) for the prestigious 'One Forest Avenue' project with a globally renowned partner like Brookfield Properties. This INR 71.30 crore contract is a powerful testament to our specialized expertise in complex foundation and piling works. This win is a significant milestone in our strategy to capture high-value projects aggressively, and we look forward to commencing work and supporting world-class infrastructure development in Mumbai."

This contract is crucial for SIIL's ongoing financial and operational restructuring. The substantial order worth INR 71.31 crore provides a significant boost to the company's order book and revenue visibility for the upcoming fiscal year, immediately enhancing its topline growth prospects. The awarded contract covers initial excavation and shore piling works, representing the first phase of a larger development that will be undertaken subsequently. Furthermore, successfully executing a foundational project of this magnitude for companies with this high-caliber promoter backing will strengthen SIIL's credentials in the high-margin commercial real estate development sector, paving the way for securing future large-scale, specialized contracts and demonstrating the company's renewed financial stability and operational capability to the market and its shareholders.

Shares of Supreme Infrastructure India Limited was last trading in BSE at Rs. 83.00 as compared to the previous close of Rs. 84.00. The total number of shares traded during the day was 510 in over 4 trades.

The stock hit an intraday high of Rs. 83.00 and intraday low of 82.01. The net turnover during the day was Rs. 42033.00.

Source : Equity Bulls

Keywords

SupremeInfrastructureIndia INE550H01011 CivilConstruction LOI OneForestAvenue Powai