SPML Infra bags work order worth Rs 546.96 crore

On Monday, SPML Infra announced that it has received a large bulk order water supply project worth Rs 546.96 crore from Bangalore Water Supply and Sewerage Board (BWSSB) with the intent of supplying an additional 775 MLD of water to the city of Bengaluru.

The said project, which falls under Cauvery Water Supply Scheme - Stage V, entails the work of supplying, fabrication, laying and jointing of 25.5 km MS pipeline for clear water transmission from Harohalli to Vajarahalli (both in Karnataka). In addition, it also includes the laying of uPVC conduit for fibre optic cable for the entire length of the pipeline and associated work. The project is envisioned to be completed in a period of 30 months.

Speaking on the announcement, Subhash Sethi, Chairman of SPML Infra said that the government push on infrastructure development would result in a good emphasis on water supply projects in the next few years and the company would continue to focus on these projects for newer opportunities as per its growth plans on a sustainable basis.

Subhash Projects and Marketing (SPML) Infra Ltd is a construction and project management company. It undertakes large-scale turn key projects in the areas of water and power management, power distribution, infrastructure and environmental projects.

Despite the announcement, on Monday, the shares of SPML closed at Rs 8.94, down by 0.45 per cent or Rs 0.04 per share. The 52-week high is recorded at Rs 37.05 and the 52-week low is Rs 6.32 on BSE.