Faalcon Concepts Secures ₹6.96 Crore Order from Sirohi Infotech

Team Finance Saathi

    26/Nov/2024

What's covered under the Article:

  1. Faalcon Concepts Limited announces the receipt of a work order worth Rs. 6.96 crore from Sirohi Infotech.
  2. The work order relates to glass, glazing, and window services with a timeline of 9 months.
  3. Faalcon confirms no related-party transaction, and the order comes from a domestic entity.

Faalcon Concepts Limited, formerly known as Faalcon Concepts Private Limited, has announced the receipt of a new work order from Sirohi Infotech Private Limited, a company located in Greater Kailash, South Delhi, India. The work order, valued at Rs. 6,96,20,000 (Rupees Six Crore Ninety-Six Lacs and Twenty Thousand Only), is for providing glass, glazing, and window services.

The work order specifies a nine-month timeline for completion, marking a significant addition to Faalcon Concepts' ongoing portfolio of projects. The order involves monthly billing related to material delivery and performance requirements.

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Faalcon Concepts Limited has clarified that there is no interest or involvement from any of its promoters, promoter group, or associated companies in the entity awarding the contract. The company further confirms that the order does not fall under the category of related party transactions and that the agreement has been made at arm’s length.

The contract, which is awarded by a domestic entity, further strengthens Faalcon Concepts’ position in the infrastructure services market, specifically in the area of glazing and window installation.

This new development was communicated to the BSE (Scrip Code: 544164) and aligns with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. It is a step forward in maintaining transparency and ensuring that stakeholders are updated on important developments within the company.

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