Monarch Surveyors and Engineering Consultants Limited has received a Letter of Acceptance for consultancy work under the Maharashtra Green Roads Connectivity for Inclusive Growth Program.
The contract has been awarded by the Maharashtra Rural Roads Development Association (MRRDA). It is being executed through a joint venture in which Monarch holds a 70 percent stake.
The total contract value is ₹23.53 crore. Monarch’s share works out to about ₹16.47 crore.
The order relates to the appointment of a consultant for ADB/PISC Consulting Services under the program, the company said in an exchange filing.
Scope of the assignment
The consultant will provide support for the execution and monitoring of road projects across Maharashtra.
Work under the contract includes:
- Implementation support services.
- Project monitoring.
- Technical advisory assistance.
- Engineering consultancy services required for the program.
The initiative focuses on rural road connectivity and sustainable transport links. It is expected to be funded under a framework involving the Asian Development Bank (ADB).
Disclosures made by the company
Monarch said the order was awarded by a domestic entity.
It also stated that:
- The transaction does not fall under related-party dealings.
- Promoters and promoter group entities have no interest in the awarding authority.
The company has a market capitalization of around ₹304.21 crore.
Its shares were trading at ₹211.10, down 4.91 percent during the session.
Over the past five trading sessions, the stock has slipped about 2.76 percent. Losses over one month stand at roughly 9.65 percent.
The stock’s 52-week high is ₹435, while the 52-week low is ₹165.
About the company
Founded in 1999, Monarch Surveyors and Engineering Consultants provides civil engineering consultancy services.
Its offerings include:
- Project management consultancy.
- Engineering design.
- Supervision services.
- Survey work.
- Transportation planning.
- Infrastructure advisory services across sectors.
TL;DR:
Monarch Surveyors has secured a ₹23.53 crore consultancy contract under the Maharashtra Green Roads Connectivity for Inclusive Growth Program. The company holds a 70% stake in the joint venture, giving it a contract share of ₹16.47 crore.
AI summary:
- Monarch Surveyors received a Letter of Acceptance from MRRDA.
- The project value stands at ₹23.53 crore.
- Monarch’s share in the JV contract is ₹16.47 crore.
- The assignment falls under the Maharashtra Green Roads program.
- The project is expected to be supported through an ADB framework.
