Power Mech Projects Ltd awarded Rs. 296 Crore Mumbai Monorail Operations & Maintenance Contract

Power Mech Projects Limited ("PMPL" or the "Company") one of the leading industrial engineering, construction and services companies in the Power and Infrastructure sectors, has secured an Operations & Maintenance (O&M) contract from Maha Mumbai Metro Operation Corporation Limited (MMMOCL) for the Mumbai Monorail.

The contract covers O&M of the 19.54 Km route and 17 stations, from Sant Gadge Maharaj Chowk to Chembur in Mumbai for a period of 5 years. The award represents a total contract value of Rs. 296 Crore (excluding GST).

The Mumbai Monorail, in service since 2014, is India's only straddle monorail system. Under this contract, PMPL will undertake comprehensive O&M services which include operating new advanced rolling stock and the new and upgraded Communication Based Train Control (CBTC) signaling system.

Commenting on the award, Mr. Sajja Kishore Babu, Chairman and Managing Director said: "I am delighted to announce that PMPL has secured a major and strategically significant new award for the Operations and Maintenance of the Mumbai Monorail. This contract signifies PMPL's entry into the urban mobility sector and reinforces our position as a prominent O&M company in the nation's rapidly expanding infrastructure sectors. This project strengthens PMPL's strategic fit by creating a powerful synergy between our core industrial O&M competencies and the specialized demands of urban transit.

PMPL, with extensive experience in the O&M of power plants, is committed to deploying qualified personnel and delivering the highest standards of services across the Mumbai Monorail. We remain focused on efficient and on-time performance, along with enhanced safety and comfort for passengers. With improving connectivity to other metro, suburban and railway lines, PMPL's operations will be servicing a greater number of commuters over time.

This award reflects the confidence placed in PMPL's technical expertise, execution discipline and safety-first culture. Urban transit O&M demands 24x7 readiness, high reliability and strict compliance, areas where PMPL has consistently delivered. We remain committed to supporting MMMOCL in enhancing service reliability and passenger experience through a smooth transition process."

Shares of Power Mech Projects Limited was last trading in BSE at Rs. 2082.60 as compared to the previous close of Rs. 2066.95. The total number of shares traded during the day was 4164 in over 579 trades.

The stock hit an intraday high of Rs. 2119.50 and intraday low of 2037.50. The net turnover during the day was Rs. 8690664.00.

Source : Equity Bulls

Keywords

PowerMechProjects INE211R01019 OrderWin