Sanghvi Movers' subsidiary bags Rs 429-cr wind EPC orders

Sanghvi Movers announced that its material subsidiary, Sangreen Future Renewables, has received large work orders worth Rs 428.72 crore from prominent Independent Power Producers (IPPs).

According to an exchange filing, the order pertains to engineering, procurement and construction (EPC) services for wind balance of plant (BoP) works. The scope includes construction of wind turbine generator (WTG) civil foundations, civil re-engineering works, if required, leasing and development of temporary pathways, development of internal roads and external logistics roads, crane platforms and crane boom assembly areas.

It also covers inter-carting of WTGs from storage yards to their respective locations, installation of WTGs, mechanical completion, pre-commissioning activities, internal 33 kV line works, development of DP yards for the WTGs, and obtaining permits and approvals necessary for project commissioning.

The contract involves a total capacity of 270.6 MW. The project is scheduled to commence in the third quarter of FY 202526 and is expected to be completed by the first quarter of FY 202728.

The company also clarified that neither its promoters nor members of the promoter group have any interest in the awarding authority, and the transaction does not qualify as a related-party transaction under applicable regulatory norms.

Sanghvi Movers provides medium- to heavy-duty cranes on a rental basis to various private and public sector undertakings.

The company reported a 24.6% rise in consolidated net profit to Rs 36.27 crore, on an 34.4% increase in revenue from operations to Rs 209.90 crore in Q2 FY26 over Q2 FY25.

The counter jumped 5.20% to Rs 347.05 on the BSE.

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