The Monarch Surveyors and Engineering Consultants Ltd receives LoA worth Rs. 16.47 Crore

The Monarch Surveyors and Engineering Consultants Limited has recently received Letter of Acceptance Appointment of Consultant for ADB/PISC Consulting Services for Program Implementation Support Consultant for Maharashtra Green Roads Connectivity for Inclusive Growth Program and the project have been awarded under a Joint Venture (JV), in which the Monarch Surveyors and Engineering Consultants Limited holds a 70% partnership stake and total order value of the project is Rs. 23,53,47,000/- (Rupees Twenty-Three Crores Fifty-Three Lakhs FortySeven Thousand Only). As per MOU signed with a third-party, share of Monarch is 70% of the total order value. Accordingly, Monarch's order value is Rs. 16,47,42,900/- (Rupees Sixteen Crore FortySeven Lakh Forty - Two Thousand Nine Hundred Only).

The consultancy assignment has been awarded by the Maharashtra Rural Roads Development Association (MRRDA) and involves providing implementation support services for the development of sustainable and inclusive rural road connectivity infrastructure across Maharashtra. The program is expected to play a significant role in enhancing rural accessibility, promoting economic development, and supporting environmentally sustainable transportation infrastructure.

This order further strengthens Monarch's position in the transportation and infrastructure consulting segment and reinforces its growing track record in delivering large-scale government-backed infrastructure projects.

Commenting on the development, Mr. Sunil Kokare, Director - Business, Monarch Surveyors and Engineering Consultants Limited, said: "We are pleased to secure this important mandate under the Maharashtra Green Roads Connectivity Program. The project strengthens our position in the transportation infrastructure segment and reflects the confidence that government agencies continue to place in our technical expertise and execution capabilities.

With our strong track record in infrastructure consulting and project management, we are well-positioned to support the successful implementation of this program while contributing to improved rural connectivity and sustainable infrastructure development across Maharashtra."

Shares of Monarch Surveyors and Engineering Consultants Limited was last trading in BSE at Rs. 211.50 as compared to the previous close of Rs. 222.00. The total number of shares traded during the day was 34200 in over 39 trades.

The stock hit an intraday high of Rs. 225.00 and intraday low of 210.90. The net turnover during the day was Rs. 7360890.00.

Source : Equity Bulls

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