Vikran Engineering (VEL) said that it has received two major letters of award (LoA) aggregating to Rs 530.80 crore from Maharashtra State Electricity Distribution Co. (MSEDCL), a Government of Maharashtra undertaking.
Vikran Engineering said that it has secured Rs 530.80 crore worth of distribution infrastructure orders from Maharashtra State Electricity Distribution Company (MSEDCL), a Government of Maharashtra undertaking.
These contracts are for undertaking distribution infrastructure strengthening works in the Nashik and Kolhapur zones under the ADB-funded power distribution enhancement program.
The Nashik package is valued at Rs 235.63 crore, while the Kolhapur package stands at Rs 295.17 crore.
The scope includes end-to-end EPC execution covering survey, design, engineering, supply, installation and commissioning of distribution infrastructure, including new substations, transmission lines, transformer augmentation, underground cabling and GIS-based asset mapping.
Both projects are to be executed on a turnkey basis with a completion timeline of 21 months from the respective award dates.
Rakesh Markhedkar, chairman and managing director, Vikran Engineering, said: “These two LoAs from MSEDCL under the ADB-funded program are a strong validation of our technical capabilities and our consistent execution track record in large-scale power distribution infrastructure.
Winning both the Nashik and Kolhapur Zone packages through competitive national bidding is a clear vote of confidence in our engineering depth and project management capabilities.”
Vikran Engineering provides end-to-end services from conceptualization, design, supply, installation, testing, and commissioning on a turnkey basis and has a presence across multiple sectors, including power, water, and railway infrastructure.
The company had reported a 37.9% decline in standalone net profit to Rs 20.91 crore on a 0.5% rise in net sales to Rs 266.46 crore in Q3 FY26 as compared with Q3 FY25.
The scrip had lost 0.34% to end at Rs 55.38 on the BSE yesterday.
