Waaree Renewable Tech gains after securing LoA worth Rs 232 cr for solar project

Waaree Renewable Technologies added 2.68% to Rs 946.80 after the company announced that it has received a letter of award (LoA) worth Rs 232.30 crore from Waaree Energies for a solar power project.

The project involves the development of a ground-mounted solar power plant, including the operation and maintenance (O&M) of a 170 MW AC/255 MW DC capacity on a turnkey basis.

The order value is approximately Rs 232.30 crore, and the project is scheduled for completion in the financial year 2025-26, as per the terms of the order.

Waaree Renewable Technologies, a subsidiary of Waaree Group, is a leading solar EPC company based in Mumbai. In addition to EPC services, they also develop, finance, construct, own, and operate solar projects, focusing on commercial and industrial customers.

The company's consolidated net profit fell 16.71% to Rs 53.51 crore in Q3 FY25 as against Rs 64.25 crore posted in Q3 FY24. Revenue from operations increased 11.15% year on year to Rs 360.35 crore in the quarter ended 31 December 2024.

Powered by Capital Market - Live News