Coromandel Engineering Company Ltd. announced on Friday, August 1, that it has secured two significant contracts worth a total of ₹134 crore from domestic clients in Tamil Nadu. The update was shared in a regulatory filing to the Bombay Stock Exchange under SEBI’s disclosure norms.
The company revealed that the contracts have been awarded by two entities — Sivanesh Bagerathi Enterprises and Sri Lakshmi Ammal Educational Trust — for residential and institutional infrastructure development.
Project details:
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Sivanesh Bagerathi Enterprises has awarded a ₹93 crore contract for the construction of residential apartments, which is expected to be executed over a period of 30 months.
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Sri Lakshmi Ammal Educational Trust has awarded a ₹41 crore contract for the construction, repair, and renovation of hostel buildings. Construction is expected to be completed within 15 months, while renovation work is to be completed in 3 months.
Of note, the promoter of Coromandel Engineering has a significant interest in Sri Lakshmi Ammal Educational Trust, making this a related-party transaction. However, the company clarified that the contract was signed on an arm’s length basis.
These projects are expected to boost Coromandel Engineering’s order book and affirm its position in the southern construction market.
