Mumbai (Maharashtra) [India], February 20: Mumbai-based BSE-listed infrastructure powerhouse Hazoor Multi Projects Limited (HMPL) has secured a landmark Rs 182.95 crore work order from Tata Steel Limited for the turnkey development of residential colonies at TSSIJ, Bileipada, Joda. The comprehensive project involves design, engineering, and execution of G+9 apartment blocks, delivering 288 Non-Operational Staff Residential (NOPR) units and 72 Operational Staff Residential (OPR) units, complete with civil works, electrical systems, fire fighting, area development, automated lifts, and essential utilities—all aligned with Tata Steel’s approved architectural schemes over a 24-month timeline. This high-profile domestic contract underscores HMPL’s execution prowess in capital-intensive projects and bolsters its order book in the building and construction segment.
Complementing this win, HMPL has navigated a key corporate restructuring following the conversion of Rs 22.30 crore in Compulsorily Convertible Debentures (CCDs) into equity shares of Vyom Hydrocarbon Private Limited (VHPL), diluting its previous 51% controlling stake and reclassifying VHPL and its subsidiary Quippo Oil and Gas Infrastructure Limited as non-subsidiaries under Indian Accounting Standards. The company is meticulously reviewing statutory documents to ensure precise accounting and resolve legal aspects ahead of finalizing consolidated financial results, reflecting its commitment to governance amid evolving partnerships in the oil and gas sector.
HMPL’s financial momentum remains strong, with Q3FY26 reporting net sales of Rs 75.97 crore and net profit of Rs 2.72 crore, while 9MFY26 delivered net sales of Rs 259.20 crore (up 55% YoY) and net profit of Rs 12.43 crore (up 57% YoY). Full-year FY25 results showed net sales of Rs 638 crore and net profit of Rs 40 crore, supporting a market capitalization exceeding Rs 790 crore. The company’s stock has surged over 9,900% in five years, from Rs 0.34 to Rs 34.01 per share, highlighting investor confidence in its diversified operations across highways, civil EPC, shipyard services, and now oil and gas.
Disclaimer: This article is for informational purposes only and does not constitute financial advice.
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