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IRCON Wins Rs.285 Crore Order in Meghalaya Secretariat Project

Synopsis:

IRCON International, in a joint venture with Badri Rai and Company, secured a Rs.1,096.17 crore EPC contract for the Meghalaya Secretariat Complex project. IRCON holds a 26% share worth Rs.285 crore. IRCON International share price closed at Rs.138.25, down 1.53%.


State-owned IRCON International has won a Rs.285 crore share in a Rs.1,096.17 crore Engineering, Procurement, and Construction contract for the construction of a new Secretariat Complex in Meghalaya. The contract, awarded by the Directorate of Urban Affairs, Government of Meghalaya, was secured in a joint venture with Badri Rai and Company. IRCON holds a 26% stake in the project, while BRC holds the remaining 74%. The project includes campus infrastructure and is scheduled for completion in 36 months.

Also read: Tata Motors Incorporates Digital.AI Labs to Expand in IT Sector

IRCON INTERNATIONAL LTD

Trade

145.927.75 (5.60 %)

Updated - 18 March 2025
150.40day high
DAY HIGH
142.70day low
DAY LOW
36097996
VOLUME (BSE)

Key Takeaways

  • IRCON secures Rs.285 crore share in a Rs.1,096.17 crore EPC contract

  • Project involves constructing a new Secretariat Complex in New Shillong City

  • Joint venture with Badri Rai and Company, with IRCON holding a 26% stake

  • Completion timeline set at 36 months

  • IRCON International share price closed at Rs.138.25, down 1.53% on March 17, 2025

Also read: Manappuram Finance Board to Consider Fundraising Proposals on March 20

IRCON’s Financial Performance and Order Book

For the third quarter of FY25, IRCON International reported a 65% drop in net profit to Rs.86 crore compared to Rs.244 crore in the same quarter last year. The company’s revenue from operations declined by 10%, falling to Rs.2,612.86 crore from Rs.2,929.54 crore in Q3FY24. EBITDA also fell to Rs.218.3 crore from Rs.378.1 crore, with the EBITDA margin shrinking to 8.1%. As of December 31, 2024, IRCON's total order book stood at Rs.21,939 crore.

Financial Metric

Q3 FY25

Q3 FY24

Change

Net Profit

Rs.86 crore

Rs.244 crore

-65%

Revenue from Operations

Rs.2,612.86 crore

Rs.2,929.54 crore

-10%

EBITDA

Rs.218.3 crore

Rs.378.1 crore

-42%

EBITDA Margin

8.1%

N/A

Decline

Total Order Book

Rs.21,939 crore

N/A

-

Market Impact and Future Outlook

Despite securing the new order, IRCON International share price declined by 1.53% on March 17, 2025, closing at Rs.138.25. The company’s financial performance in the third quarter reflected lower profitability and revenue, but its strong order book of Rs.21,939 crore suggests future growth potential. Investors will monitor the execution of the Meghalaya project and IRCON’s ability to improve margins in upcoming quarters.

IRCON International continues to strengthen its order book with new project wins, including its Rs.285 crore share in the Meghalaya Secretariat Complex contract. While financial results showed a decline, the company’s ongoing projects may support future earnings and IRCON International share price trends.

Also read: Moody’s Affirms IndusInd Bank Ratings, Places BCA on Review for Downgrade

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