Ircon International Secures Rs 224.5 Crore Contract From NE Frontier Railways

Ircon International Ltd has received a Letter of Acceptance (LOA) from Northeast Frontier Railways (NFR) for a composite works contract worth Rs 224.5 crore, the Money Control reported.

The project, to be executed over 18 months, involves civil, electrical, mechanical, and signal-and-telecom works across multiple facilities in the Northeast region.

According to the company’s filing, the project includes the upgradation and development of maintenance infrastructure for the energy-efficient Vande Bharat Express at the Coaching Complex in New Jalpaiguri (NJP).

It also covers the construction of a GE locomotive shed at SGUJ, designed to home 250 GE locomotives (WDG4G/WDG6G), and the establishment of next-generation freight maintenance facilities in the Katihar division at NJP.

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The contract has been awarded by a domestic entity, and the company will manage the project end-to-end, covering civil, electrical, mechanical, and signal & telecom components.

The company’s market capitalisation stands at approximately Rs 46.74 billion, with a price-to-earnings ratio of 23.82 and a dividend yield of 1.57 per cent.

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