The lease permits river sand mining with an annual production ceiling of 1,54,350 metric tonnes per annum.
The company got the sand mine through the auction process and has obtained the necessary statutory clearances from the relevant authorities.
Additionally, the company has deposited the requisite amounts and security with the Mining Engineer, Department of Mines & Geology, Barmer, Government of Rajasthan, for execution of the mining agreement.
Under the terms of the lease, Vishnu Prakash R Punglia will be responsible for the mining and sale of river sand for a period of five years, subject to the prescribed annual production ceiling and applicable regulatory compliances.
“The lease aligns with the company’s diversification strategy and strengthens its expanding business portfolio across India, while supporting balanced and sustainable growth across new verticals. The company continues to pursue opportunities that complement its EPC capabilities and enhance long term value creation,” Vishnu Prakash R Punglia said in a statement.
Vishnu Prakash R. Punglia is an integrated engineering, procurement, and construction (EPC) company with experience in the design and construction of various infrastructure projects for the central and state governments, autonomous bodies, and private bodies across nine states and one Union territory in India.
The company's net profit declined 84.62% to Rs 3.65 crore on a 11.70% fall in revenue to Rs 295.69 crore in Q2 FY26 over Q2 FY25.
The scrip rose 0.22% to currently trade at Rs 63.01 on the BSE.