SPML Infra hit an upper circuit of 5% at Rs 175.65 after the company signed an agreement with the Water Resource Department, Hazaribagh, for a major irrigation project under the Konar Irrigation Project on a turnkey basis.
The project, valued at Rs 617.98 crore (approximately $70.90 million), aims to enhance irrigation infrastructure across 12,599.43 hectares of agricultural land in the Bisnugarh block (Hazaribagh), Nawadih block (Bokaro), and Dumri block (Giridih) in Jharkhand.The project involves the reconstruction, repair, and structural strengthening of the main canal, right branch canal, and associated distributaries, sub-distributaries, and minor canals through open channels. It also includes the construction of an approach channel, canal lining, a solar-powered pump house cum sump, and a pressure pipe water conveyance system.
The pipeline network will use MS, DI, and HDPE pipes of up to 1200 mm in diameter and include an advanced pipe distribution network (PDN) and control mechanisms. Additionally, civil works such as boundary walls, approach roads, and service roads are part of the plan.
The project includes a 10-year post-construction phase for operation, maintenance, and management (O&M) to ensure long-term sustainability and efficiency.
Subhash Sethi, chairman of SPML Infra, said, We are proud to contribute to the development of Jharkhands irrigation infrastructure. This project aligns with our commitment to delivering sustainable water management solutions that enhance agricultural productivity and improve farmers' livelihoods. By leveraging advanced technology and efficient execution, we aim to complete the project within the stipulated timeline while ensuring high standards of quality and reliability.
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SPML Infra is engaged in the business of infrastructure development, which inter alia includes water management, water infrastructure development, wastewater treatment, power generation, transmission and distribution, solid waste management, and other civil infrastructure.
The companys consolidated net profit surged 795.5% to Rs 9.94 crore on a 26.2% drop in sales to Rs 186.27 crore in Q3 FY25 compared to Q3 FY24.
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