Ghaziabad-based multi-disciplinary EPC powerhouse, EMS Ltd, has clinched a significant Letter of Award (LOA) worth Rs 358.56 crore from the Uttarakhand Urban Development Department. The prestigious contract is earmarked for the comprehensive development of sewerage systems and septage management in strategic locations.
Under the LOA, EMS Ltd will spearhead the establishment of a state-of-the-art sewerage system in Raipur, covering Zones C, D, and E. Additionally, the company will take charge of septage management in Zone 9, coupled with a five-year commitment to Operations and Maintenance (O&M) in Dehradun, Uttarakhand.
In a notification to stock exchanges, EMS highlighted the LOA’s total value, stating, “The company has now received LOA of Rs 358.56 crore inclusive of a provisional sum of Rs 20.85 crore.”
EMS Ltd stands as a leading force in providing innovative solutions for sewerage, water supply, waste treatment plants, electrical transmission, distribution, road infrastructure, and allied works. The company has carved a niche in efficiently operating and maintaining wastewater and water supply schemes, primarily funded by the World Bank. As of July 2023, EMS Ltd boasts an impressive portfolio, comprising 18 projects worth Rs 1,744.92 crore, alongside five O&M projects totaling Rs 99.28 crore.
Ashish Tomar, Managing Director of EMS Ltd, expressed his excitement about securing the significant LOA, “We are thrilled to have bagged this LOA for the development of sewerage systems and septage management from the Uttarakhand Urban Development Department valued at almost Rs 360 crore. The work is expected to begin by January 2024 and is likely to be completed in 42 months. With our expertise in executing water supply and sewerage infrastructure projects, we are bullish about growing our order book significantly moving forward. Our current cash flow and balance sheet continue to remain healthy to support our growth pipeline.”
The development comes on the heels of EMS Ltd’s impressive financial performance for the half-year ending September 30, FY24. The company reported a remarkable 69 percent growth in standalone net profit, soaring to Rs 66.69 crore from Rs 39.44 crore in the same period last year. Revenue from operations on a standalone basis witnessed a robust surge of nearly 73 percent, reaching Rs 308.53 crore during the same half-year period, compared to Rs 177.98 crore in the preceding year.
EMS Ltd is gearing up to embark on this transformative project, reflecting the continued focus of central and state governments on urban development. The company’s successful track record, coupled with its commitment to excellence, positions it as a key player in driving the efficient management of sewerage infrastructure to support the burgeoning growth of towns and cities.