Monarch Surveyors Secures 70% Stake in Rs 23.5 Million Infrastructure Project
Monarch Surveyors and Engineering Consultants Limited has secured a significant consulting appointment under a Joint Venture (JV) for the Maharashtra Green Roads Connectivity for Inclusive Growth Program. The company holds a 70% partnership stake in this project, which involves providing ADB/PISC Consulting Services for program implementation support.The total order value of the infrastructure project is Rs 23,53,47,000/- (Rupees Twenty-Three Crores Fifty-Three Lakhs FortySeven Thousand Only). Based on the mutually signed Memorandum of Understanding (MOU), Monarch Surveyors' specific order value stands at Rs 16,47,42,900/-(Rupees Sixteen Crore FortySeven Lakh Forty - Two Thousand Nine Hundred Only).
The contract involves the appointment of a consultant for ADB/PISC Consulting Services. The project entity is managed in conjunction with the Maharashtra Rural Roads Development Association and has been designated as a domestic opportunity.
Key details regarding the contracted work are summarized below:
| Particulars | Details |
|---|---|
| Project Name | Maharashtra Green Roads Connectivity for Inclusive Growth Program |
| Consulting Service | ADB/PISC Consulting Services for Program Implementation Support Consultant |
| Total Contract Value (Project) | Rs 23,53,47,000/- |
| Monarch Surveyors' Order Value | Rs 16,47,42,900/- |
| Partnership Stake Held by Monarch | 70% |
The transaction is classified as a domestic opportunity. The contract mechanism involves a Cash Consideration. While the work is subject to necessary approvals from governmental authorities, the entire project completion timeline will adhere to the Letter of Acceptance.
Stock Price Movement
As of 11:09, Monarch Surveyors and Engineering Consultants Ltd. is ticking down, trading at ₹218.00 in the market, reflecting a -1.80% decline. The shares have experienced intraday volatility, finding a low of ₹214.75 and reaching a high of ₹225.00 during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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