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What is the story about?
IRCON International on Tuesday said its joint venture with Badri Rai & Company has secured a ₹763.1 crore contract from Tripura State Electricity Corporation Ltd (TSECL) for the development of a smart grid project in Agartala.
Under the contract, the joint venture will undertake the design, engineering, supply, installation, testing and commissioning of an underground power cable network, smart grid applications and communication infrastructure across the Agartala Municipal area.
The project also includes Supervisory Control and Data Acquisition (SCADA), Advanced Distribution Management System (ADMS), Outage Management System (OMS), GIS mapping and integration, optical fibre cable networks and the establishment of primary and backup smart grid control centres.
The project is scheduled to be completed within 24 months, according to the company's exchange filing.
The total contract value stands at ₹763.1 crore, including GST. Of this, IRCON's share amounts to ₹198.4 crore, while lead partner Badri Rai & Company will execute the remaining ₹564.7 crore worth of work under the 74:26 joint venture arrangement.
Separately, IRCON also informed exchanges that the Ministry of Railways has decided to entrust the additional charge of Chairman and Managing Director to Saleem Ahmad, the current CMD of
Rail Vikas Nigam Ltd. (RVNL)
, for a period of one year beginning July 1, 2026.
The move follows the superannuation of existing CMD Hari Mohan Gupta, who is set to retire on June 30. The arrangement will remain in force until a regular incumbent assumes charge or until further orders, whichever is earlier.
Shares of IRCON were trading at ₹137.30 on the NSE at around 2:53 PM, down 1.3% for the day, though the stock had recovered from an intraday low of ₹135.25 as investors assessed both the fresh order win and the upcoming management transition.
Under the contract, the joint venture will undertake the design, engineering, supply, installation, testing and commissioning of an underground power cable network, smart grid applications and communication infrastructure across the Agartala Municipal area.
The project also includes Supervisory Control and Data Acquisition (SCADA), Advanced Distribution Management System (ADMS), Outage Management System (OMS), GIS mapping and integration, optical fibre cable networks and the establishment of primary and backup smart grid control centres.
The project is scheduled to be completed within 24 months, according to the company's exchange filing.
The total contract value stands at ₹763.1 crore, including GST. Of this, IRCON's share amounts to ₹198.4 crore, while lead partner Badri Rai & Company will execute the remaining ₹564.7 crore worth of work under the 74:26 joint venture arrangement.
Separately, IRCON also informed exchanges that the Ministry of Railways has decided to entrust the additional charge of Chairman and Managing Director to Saleem Ahmad, the current CMD of
The move follows the superannuation of existing CMD Hari Mohan Gupta, who is set to retire on June 30. The arrangement will remain in force until a regular incumbent assumes charge or until further orders, whichever is earlier.
Shares of IRCON were trading at ₹137.30 on the NSE at around 2:53 PM, down 1.3% for the day, though the stock had recovered from an intraday low of ₹135.25 as investors assessed both the fresh order win and the upcoming management transition.
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