Mumbai: Kesar India Limited has informed the BSE that its wholly owned subsidiary, Kesar Infraventures Private Limited, has bagged a major Engineering, Procurement and Construction (EPC) contract for a residential development project in Central Mumbai. The company disclosed Regulation 30 of the SEBI Listing Regulations.
The contract has been awarded by M/s Zee Enterprises and carries an estimated execution value of Rupees 160 crore. According to the company’s filing, the project is located at Siddharth Nagar in Byculla and marks a significant step for Kesar Group’s growing infrastructure and EPC vertical.
Major Order From Domestic Entity
Kesar Infraventures Private Limited functions as the infrastructure and EPC arm of Kesar India Limited. The company said the order has been received in the ordinary course of business and has been awarded by a domestic entity. The project will involve the execution of residential towers along with allied infrastructure and amenities. The scope of work includes RCC construction, internal and external development works, electrical systems, plumbing, firefighting systems, roads, drainage, landscaping and associated infrastructure facilities.
Project To Be Completed In 24 Months
As per the disclosure, the project is expected to be completed over an estimated period of 24 months. The company has stated that neither its promoter nor the promoter group has any interest in the entity that awarded the contract. It also clarified that the contract does not fall under related-party transactions. The order is expected to strengthen Kesar Group’s presence in the EPC and infrastructure space, particularly in Mumbai’s residential development segment.
The contract also reflects the company’s continued focus on expanding beyond its existing real estate and land development operations into larger infrastructure-linked execution projects. The disclosure was signed by Aditi Anup Deshmukh, Company Secretary and Compliance Officer of Kesar India Limited. The company is registered in Nagpur and is listed on the BSE under scrip code 543542.
Disclaimer: This article is based solely on the company’s regulatory filing and does not constitute investment advice or a stock recommendation.
