Dee Development Engineers gains after Thailand arm secures Rs 20 crore LOI

DEE Development Engineers rose 3.15% to Rs 269.80 after the companys material subsidiary, DEE Piping Systems (Thailand) Co has received a Letter of Intent (LOI) worth about Euro 1.9 million (approximately Rs 20 crore) from an international customer.

According to an exchange filing, the order involves the prefabrication and supply of piping and supports for a Taiwan project. The scope of work includes the supply and fabrication of piping materials for a heat recovery steam generator (HRSG) system.

The total value of the contract is estimated at euro 1.9 million, equivalent to around Rs 20 crore. The order is scheduled to be executed by May 2027.

The company stated that it is unable to disclose the name of the customer due to commercial confidentiality.

DEE Development Engineers (DDEL) is an engineering company providing specialized process piping solutions for industries such as oil and gas, power (including nuclear), process industries, and chemicals through engineering, procurement, and manufacturing services.

The company reported a consolidated net profit of Rs 18.28 crore in Q3 FY26 compared with a net loss of Rs 13.33 crore in Q3 FY25. Net sales increased 77% YoY to Rs 298.67 crore in Q3 FY26.

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