Welspun Enterprises Ltd Share Price – NSE  /  BSE

Construction, Small Cap

Welspun Enterprises announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 29 March 2024 .

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In an exchange filing, the company said, “Welspun Enterprises has secured a significant contract to design, build and operate a 2,000 MLD (million litres per day) water treatment plant (WTP) at Bhandup complex in Mumbai, from the Brihanmumbai Municipal Corporation (BMC).

The contract, valued at Rs 4,123.88 crore, encompasses the design, construction, and operations & maintenance of the plant. The value comprises a Rs 1,880.44 crore operations and maintenance (O&M) component and a Rs 2,243.44 crore design-build (DB) component.

The design‐build project is slated to be completed within a timeframe of 48 months, following which the company will undertake O&M responsibilities for a period of 15 years, said the firm.

The proposed water treatment plant, one of the largest in the world in terms of capacity, is located at BMC’s Bhandup complex, which currently supplies drinking water to Mumbai City through existing water treatment plants.

“WEL has partnered with Veolia, one of the world’s largest technology company specializing in the water sector, as its Technology provider for the upcoming plant. WEL aims to leverage advanced treatment processes and technologies, in line with its commitment to maximizing resource utilization and developing sustainable infrastructure solutions,” the company stated in the press release.

The company is currently executing some projects including the rural water supply project under Government of India’s Jal Jeevan Mission in Uttar Pradesh covering around 2,500 villages and the 418 MLD waste water treatment facility (WwTF) project at Dharavi, Mumbai, it added.

Sandeep Garg, managing director, Welspun Enterprises, said, “With the Bhandup WTP project, WEL has expanded its portolio to encompass a comprehensive range of solutions across the entire water spectrum. The water sector continues to be one of the key focus areas for us and this order synergises well with our overall growth strategy. Our strong capabilities and proven track record in delivering high value and critical infrastructure projects stand us in good stead to bag significant opportunities in future.”

Welspun Enterprises is engaged in the civil construction contract. They are offering various types of works, such as mass housing and township, multi-storied buildings, industrial projects for coal mines, fertilizer plants, petrochemicals and water retaining structures.

The company’s consolidated net profit stood at Rs 71.55 crore in Q3 FY24, down 82.1% from Rs 400.70 crore posted in Q3 FY23. However, net sales stood at Rs 706.71 crore in Q3 FY24, up 2.1% year on year.

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Welspun Enterprises (WEL), the infrastructure and energy arm ofWelspun World, has secured a significant contract to Design, Build and Operate a 2,000 MLD (million litres per day) Water Treatment Plant (WTP) at Bhandup Complex in Mumbai, from the BrihanmumbaiMunicipal Corporation (BMC).

The contract, valued at Rs. 4,123.88 crore, encompasses the design, construction, and operations & maintenance of the plant. The value includes an Operations and Maintenance (O&M) component ofRs. 1,880.44 crore. The design]build project is slated to be completed within a timeframe of 48 months, following which WEL will undertake O&M responsibilities for a period of 15 years.

The proposed water treatment plant, one of the largest in the world in terms of capacity, is located at BMCfs Bhandup Complex, which currently supplies drinking water to Mumbai City through existing Water Treatment Plants. WEL has partnered with Veolia, one of the worldfs largest technology company specializing in the water sector, as its Technology provider for the upcoming plant. WEL aims to leverage advanced treatment processes and technologies, in line with its commitment tomaximizing resource utilization and developing sustainable infrastructure solutions

The outstanding order book of the Company as on 31 December 2023 was Rs. 8,500 crore. With the addition of this order, the outstanding order book of the Company would be around Rs. 12,650 crore (less the execution done in January & February, 2024), of which ~Rs. 9,750 crore is from the water sector and the balance ~Rs. 2,900 crore is from road sector. This order book consist of Rs. 3,677 crore of O&M & Asset replacement.

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Net profit of Welspun Enterprises declined 82.14% to Rs 71.55 crore in the quarter ended December 2023 as against Rs 400.70 crore during the previous quarter ended December 2022. Sales rose 2.07% to Rs 706.71 crore in the quarter ended December 2023 as against Rs 692.40 crore during the previous quarter ended December 2022.

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