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HomeMarket NewsLakshya Powertech bags ₹642 crore O&M contract from Vedanta
Four-year integrated services deal covers Cairn assets across Mangala, Bhagyam and Aishwarya blocks. Shares closed at 19.98% high.
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Lakshya Powertech said on Wednesday, April 15, that it has secured a ₹641.92 crore order from Vedanta Limited for the provision of integrated services for operations and maintenance (O&M) of Cairn assets in Rajasthan.
As per the exchange filing, the contract covers RJ North well pads across the Mangala, Bhagyam and Aishwarya fields. The scope includes an integrated service contract for O&M of these assets.
The company said that the order is to be executed over a period of four years and is expected to provide strong revenue visibility over the execution period.
The company added that the contract marks a significant milestone in its growth journey and aligns with its strategy to expand in high-value, long-term O&M and integrated service contracts in the oil and gas sector.
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It stated that the deal strengthens its positioning as a service partner for key clients and enhances its presence in strategic energy assets.
In a separate development, the firm informed that it has secured a work order worth ₹21.24 crore, including GST, from Micron Electricals (India) Private Limited.
The company said that the order marks a step forward in its push to expand its footprint in the data centre domain, a rapidly growing segment. The company said the contract reflects its focus on strengthening capabilities, enhancing technical expertise and delivering high-quality solutions.
Shares of Lakshya Powertech Limited surged sharply on April 15, closing at ₹115.00, up ₹19.15 or 19.98%. The stock has declined 35.43% over the past year.
