Whalesbook
Modern Engineering And Projects Ltd announced it has secured a ₹60 crore contract from Tata Steel.
Project Details
The project involves constructing a main road for the expansion of Neelachal Ispat Nigam Limited (NINL). This infrastructure work is expected to take about one year to complete.
Impact for Modern Engineering
This new order significantly enhances Modern Engineering's order backlog, providing clear revenue visibility for the upcoming fiscal year. It also demonstrates the company's capacity to handle large infrastructure projects for major clients like Tata Steel and reinforces its market position in the sector. The contract could also pave the way for future projects as NINL continues its expansion.
Company Background
Established in 1946, Modern Engineering And Projects Ltd is an Indian infrastructure firm with expertise in civil construction and transportation engineering. The company's past projects include the 8-laning of the Vadape to Thane highway and the Khopoli sewerage network. In January 2025, it secured a ₹157 crore contract for the Dhabol port project.
Payment Terms and Risks
Investors should note specific payment terms. Payments are based on the actual quantities of work executed. The contract price is stated net of Goods and Services Tax (GST), meaning reimbursements for applicable GST will require submission of valid documentation.
Market Activity
The infrastructure sector remains active, with peers like PNC Infratech, HG Infra Engineering, KNR Constructions, and IRB Infrastructure Developers also announcing significant road and highway contract wins.
What to Watch Next
Looking ahead, key aspects to monitor include progress updates on the NINL road construction, the details of work quantities executed and corresponding payments, and any further project announcements from Modern Engineering.