5 hours Ago By CNBCTV18
Infrastructure developer Welspun Enterprises Ltd on Wednesday (February 4) said its material subsidiary, Welspun Michigan Engineers Ltd (WMEL) – formerly known as Michigan Engineers Private Ltd – has been awarded a work order by the Brihanmumbai Municipal Corporation (BMC). Share Market View All Nifty Gainers View All Company Value Change %Change "We are pleased to inform you that “Welspun Michigan Engineers Limited” (“WMEL”), formerly known as Michigan Engineers Private Limited, a material subsidiary of our Company, has been awarded Work Order (WO) by the Brihanmumbai Municipal Corporation (BMC)," Welspun Enterprises said in a regulatory filing. The contract, valued at ₹290.
88 crore (inclusive of GST and a seven-year operations & maintenance agreement), covers the engineering, procurement, and construction (EPC) of the Mogra Storm Water Pumping Station in Mumbai, Maharashtra. Also Read: Eveready Industries Q3 Results | Net profit jumps 55% fueled by battery, flashlight growth "This WO pertains to an Engineering, Procurement, and Construction (EPC) contract followed by 7 years of Operations & Maintenance (O&M) of Mogra Storm Water Pumping Station in Mumbai, Maharashtra (“the project”). The contract value including GST and O&M is ₹290.
88 crore," Welspun Enterprises said. The project is scheduled for completion within 20 months, excluding the monsoon period, and will commence after obtaining the requisite statutory permissions from the Ministry of Environment and Forests, Mangrove Cell, and the high court. The outstanding order book of Welspun Michigan Engineers as of January 31, 2025, was ₹2,546 crore.
This includes the Dharavi to Ghatkopar Tunnelling order (DGT Project) of ₹1,150 Crore from Welspun Enterprises. With the addition of the Mogra Storm Water Pumping Station order, the outstanding order book of WMEL will be ₹2,791.76 crore (excluding GST).
This order book consists of ₹124.75 crore of O&M. Also Read: BASF Q3 Results | Net profit slides 26% to ₹104 crore, revenue grows 13% to ₹3,759 crore Sandeep Garg, Managing Director of Welspun Enterprises said, "Securing this contract marks a significant milestone for our material subsidiary, Welspun Michigan Engineers Ltd, as its largest independent project in the pumping station segment.
This achievement reflects the continued growth and success of WMEL, reinforcing our expertise in urban infrastructure development." Shares of Welspun Enterprises Ltd ended at ₹575.75, down by ₹8.
75, or 1.50%, on the BSE..
