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RailTel Corporation Bags Rs. 14.63 Crore Order from HPSES for Language Lab Project
Team Finance Saathi
04/Jan/2025
What's covered under the article:
- RailTel Corporation secures a Rs. 14.63 crore order from HPSES for the Language Lab project, set for completion by April 2025.
- The contract awarded by HPSES is domestic, with clear terms, including tax inclusion and execution by April 2025.
- The work order does not involve related party transactions, ensuring compliance with SEBI regulations.
RailTel Corporation of India Ltd., a leading public sector undertaking, has secured a significant work order from HPSES, a domestic entity. The order pertains to the HPSES-(SS) HQ-Language Lab-STARS-2024-25-2416 project, valued at Rs. 14.63 crore (including tax). The company received this work order on January 3, 2025, at 15:21, and the work is to be completed by April 10, 2025.
Details of the Work Order
The awarded work order comes with a set of specific terms and conditions. It is a domestic contract, meaning it has been awarded by an entity within India. The project is titled HPSES-(SS) HQ-Language Lab-STARS-2024-25-2416, which indicates its focus on setting up a language lab. The total consideration for the contract is Rs. 14.63 crore, which includes taxes, and it is expected to be executed within a specified timeframe of by April 10, 2025.
This contract does not fall under any related party transactions, which ensures that it has been conducted at arm’s length. Moreover, there is no reported delay in the reporting of the work order, and the process has adhered to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring full compliance with statutory requirements.
Implications for RailTel Corporation
Securing such a sizable order demonstrates the trust and credibility that RailTel Corporation holds within the domestic market. This order is significant not only for its size but also as it underscores the company's ability to cater to the growing technological and infrastructure demands in sectors such as language training and education. With the deadline of April 10, 2025, RailTel has a clear window to execute the project and meet expectations.
No Conflict of Interest
An important disclosure to note is that RailTel Corporation has confirmed that neither the promoter group nor any of its group companies have any interest in HPSES, the entity that has awarded the contract. This ensures the project remains free from any conflicts of interest, adding to the transparency of the transaction.
Compliance with SEBI Regulations
The company has also disclosed the details of the order as required by the SEBI circular SEBI/HO/CFD-PoD1/P/CIR/2023/123, dated July 13, 2023. This disclosure complies with the Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements, ensuring full transparency to investors and stakeholders.
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