Kalpataru Projects secures Rs 4,000 crore gas pipeline order in UAE; stock reacts

Kalpataru Projects International Ltd has secured a major order in the oil and gas business, receiving a Letter of Award (LoA) for an Engineering, Procurement and Construction (EPC) gas pipeline project in the United Arab Emirates.

The company said the order has been received in the normal course of business. The project falls under its Oil & Gas business, where KPIL undertakes engineering, procurement and construction activities for energy infrastructure projects.

The order is classified as a major order, indicating an estimated order value of over Rs 4,000 crore, according to the company's disclosure.

Kalpataru Projects shares fell 1.46% on Monday, touching a low of Rs 1,370.70, compared with the previous close of Rs 1,391.05. The fall in the stock came amid the weak broader market sentiment.

Commenting on the order win, Manish Mohnot, MD & CEO, KPIL, said, "We are delighted to secure this prestigious international project, which reinforces our proven capabilities and robust track record in the global Oil and Gas sector."

He added that the order demonstrates the company's technical expertise, operational excellence and ability to scale its global operations.

The UAE project strengthens KPIL's presence in the international oil and gas EPC market. The company operates across multiple infrastructure segments, including power transmission and distribution, buildings and factories, water, railways, urban mobility and oil and gas.

The order adds to KPIL's international project portfolio and comes as the company continues to expand its EPC operations across global markets.