IRCON Intl rallies on bagging EPC project in Meghalaya

IRCON International jumped 7.34% to Rs 148.40 after the firm said it has secured an EPC contract by the Government of Meghalaya, in a joint venture with Badri Rai and Company (BRC).

The contract is for the "Construction of New Secretariat Complex including Campus Infrastructure" in New Shillong City, Meghalaya.

The project is to be executed within 36 months. The total contract value is Rs 1,096.17 crore, with IRCON's share being Rs 285 crore. The project is a joint venture with BRC, with IRCON holding a 26% share and BRC holding a 74% share.

IRCON International is a Navratna, public sector enterprise and a leading turnkey construction company in the public sector. Its core competence lies in railways and highways. IRCON has widespread operations in several states in India and other countries (Malaysia, Nepal, Bangladesh, South Africa, Algeria, Myanmar and Sri Lanka).

IRCON International's consolidated net profit dropped 64.81% to Rs 86.10 crore while revenue from operations declined 10.81% to Rs 2,612.86 crore in Q3 December 2024 over Q3 December 2023.

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