Markolines Pavement Technologies Secures Work Orders Totaling Over Rs 29 Crore from Sports Authority of Andhra Pradesh
Markolines Pavement Technologies Limited has announced the acceptance of multiple work orders from the Sports Authority of Andhra Pradesh, significantly boosting its project pipeline. The company secured contracts valued at a total of Rs 29,37,75,305.93 for various development and infrastructure projects in the Vijaywada region.The contracts were awarded by the Sports Authority of Andhra Pradesh at the I.G.M.C. Stadium in Vijaywada. The executed work orders focus on developing and upgrading sports infrastructure in the area.
Markolines accepted two major contracts under the Letter of Award (LoA) from the Sports Authority of Andhra Pradesh. The details of the work orders are provided below:
| Project Scope | Total Letter of Award Value (inclusive of GST) | Location and Work Details | Timeline Structure |
|---|---|---|---|
| Development and Upgradation of Indira Gandhi Municipal Corporation Stadium | Rs.16,95,25,419.70 | Vijaywada, Andhra Pradesh | 9 months completion + 24 months Defect Liability Period + 1 month Grace Period |
| Construction of Indoor Hall at Pathrunivalasa | Rs.12,42,49,886.23 | Pathrunivalasa, District Srikakulam, Vijaywada, Andhra Pradesh | 9 months completion + 24 months Defect Liability Period + 1 month Grace Period |
The combined contract value of the two projects amounts to Rs.29,37,75,305.93.
The awarded contracts fall under the purview of domestic entities and cover crucial sports infrastructure developments. In both cases, the contracts stipulated a structured completion period of 9 months, followed by a 24-month Defect Liability Period, and a final 1-month Grace Period.
Stock Price Movement
As of 11:06, shares of Markolines Pavement Technologies Ltd are ticking up, currently trading at ₹153.20, marking a 1.59% gain for the day. The stock has shown significant intraday volatility, oscillating between a low of ₹151.70 and an intraday peak of ₹153.30.Source:
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