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IRCON JV bags Rs 763 crore smart grid project from Tripura State Electricity Corporation

23-Jun-26   15:23 Hrs IST
The contract involves the design, engineering, supply, installation, testing and commissioning of an underground power cable network, smart grid applications, SCADA, Advanced Distribution Management System (ADMS), Outage Management System (OMS), GIS mapping, optical fiber cable (OFC) communication system, and establishment of smart grid control centers under the Agartala Smart Grid project (Package-A) in Tripura. The project is scheduled to be executed within 24 months.

The total contract value stands at Rs 763.10 crore, including GST. Under the joint venture arrangement, Badri Rai & Company, the lead partner, holds a 74% share amounting to Rs 564.70 crore, while IRCON's 26% share is valued at Rs 198.41 crore.

Ircon International is a public sector construction company with an emphasis on infrastructure projects, with a specialization in the execution of railway projects on a turnkey basis and otherwise. After commencing business as a railway construction company, it diversified progressively to roads, buildings, electrical substations and distribution, airport construction, and commercial complexes, as well as metro rail works.

IRCON International's consolidated net profit declined 9.13% to Rs 191.60 crore in Q4 FY26 from Rs 210.85 crore reported in Q4 FY25. Revenue from operations fell 6.54% to Rs 3,188.98 crore in the quarter ended 31 March 2026, compared with Rs 3,411.97 crore in the corresponding quarter of the previous year.

Shares of IRCON International fell 1.73% to Rs 136.70 on the BSE.

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