Desco Infratech gains on bagging Rs 2-cr of order

Desco Infratech advanced 2.20% to Rs 227.90 after the company announced that it had received order worth Rs 2.06 crore from Torrent Gas Chennai and HCG (KCE).

According to an exchange filing, the order includes DPNG work for high-rise buildings in Chennai and domestic, industrial, and commercial customer connections, involving service line MDPE laying and installation of PNG connections in high-rise buildings at Hisar, Haryana.

The company clarified that neither the promoter, the promoter group, nor any group companies have any financial or other interest in the awarding entities.

Additionally, the company has received lowest bidder (L1) confirmation from Maharashtra Natural Gas. As per SEBI regulations and the applicable Master Circular, a separate disclosure will be made upon receipt of the Letter of Intent (LOI) or Letter of Award (LOA) from the concerned authority.

Desco Infratech is an infrastructure company focused on engineering, planning, & construction, particularly in city gas distribution, renewable energy, water, and power sectors.

On a full-year basis, the company's net profit surged 172.9% to Rs 9.06 crore on a 102.3% rise in revenue to Rs 59.45 crore in FY25 over FY24.

Powered by Capital Market - Live News