IRCON announced winning the massive order on Thursday evening.

What Happened: The rail infra major in an exchange filing said that it has been awarded an LOA (Letter of Acceptance) for an order from Rail Vikas Nigam Ltd. The order is won by a joint venture between IRCON, Paras Railtech Private, and PCM Strescon Overseas Ventures.

The project involves the design, supply, installation, testing, and commissioning of the broad gauge ballastless track (BLT), as well as the supply of ballast and installation of the track (excluding the supply of rails and track sleepers). This is in connection with the new broad gauge line between Rishikesh and Karanprayag (125 km) in Uttarakhand, India.

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The order is worth around ₹750.82 crore and is expected to be completed in 42 months. IRCON’s share of the JV is 60%, Paras’ share is 25 and the rest is of PCM.

Earlier this week, the company announced that Hari Mohan Gupta had taken over as the chairman and managing director (CMD). Gupta, an Indian Railway Officer from the 1989 Exam Batch, will serve as the CMD until his superannuation on June 30, 2026, or until further orders. His previous role was the director (Infrastructure) of the Dedicated Freight Corridor Corporation of India Limited (DFCCIL), a position he held for nearly four years.

Price Action: IRCON’s share price was up 1.25% to close at ₹275.75 on Thursday.

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