Power Mech Projects announces cancellation of order worth Rs 512.78 cr

Power Mech Projects announced that the company has received communication from State Project Director, Samagra Shiksha, Andhra Pradesh cancelling the order "Package-lll - Providing necessary infrastructure viz. Furniture and Additional Class Rooms including Library rooms & Electrical facilities in all Government Schools, KGBVs & Bhavitha buildings (Krishna and Guntur districts) on Hybrid Annuity Mode (HAM) worth Rs 512.78 crores on the ground that the Project is not grounded (work not commenced).

As the construction activity is not commenced, there is no implication on the financials of the Company.

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