The total value of the order stands at around Rs 170 crore. The piping supply is intended for two major power projects, with execution timelines spread across different units.
The project 1, unit 1 is expected to be completed within 12 months, while unit 2 has a completion timeline of 15 months. Project 2, unit 1, along with the supply of pipes for FN Assembly, is scheduled to be completed within 9 months from the date of the LoI.
As per the contract terms, 90% of the payment will be made within 90 days from the date of site acknowledgment or receipt and acceptance of materials, while the remaining 10% will be paid within 90 days of the completion of the purchase order.
The company confirmed that the contract was awarded by a domestic entity and does not fall within the scope of related party transactions. Additionally, there is no interest from the promoter or promoter group in the awarding entity.
DEE Development Engineers (DDEL) is an engineering company providing specialized process piping solutions for industries such as oil and gas, power (including nuclear), process industries and chemicals through engineering, procurement and manufacturing services.
The company’s consolidated net profit surged 313.79% to Rs 13.20 crore on 20.97% jump in revenue from operations to Rs 223.76 crore in Q1 FY26 over Q1 FY25.