Interarch Building Solutions Wins ₹128 Crore Order, FMCG Manufacturing Project To Finish In 10 Months
· Free Press Journal
Mumbai: Interarch Building Solutions Limited has secured an order worth approximately Rs 128 crore for constructing a pre-engineered steel building system for a major global fast-moving consumer goods (FMCG) company.
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The order value includes taxes. Interarch announced the development in an exchange filing on Tuesday, August 18.
The company has not revealed the customer’s name because of confidentiality conditions and commercial considerations.
Project Details
The project is linked to a manufacturing facility for homecare, beauty and wellness products.
Interarch’s work will cover the complete design, engineering, manufacturing, supply and erection of the pre-engineered steel building system.
This means the company will handle the project from the initial building design to the manufacturing and installation of the steel structure at the project location.
The domestic order is expected to be completed in around 10 months. However, the company has not disclosed the project’s location or provided a specific completion date.
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According to the filing, Interarch will receive 20 per cent of the contract value as an advance payment.
Based on the approximate order value of Rs 128 crore, the advance could be about Rs 25.6 crore. The final amount may depend on the detailed commercial terms of the contract.
The filing did not provide information about the remaining payment schedule or other financial conditions linked to the project.
Steel Buildings
Pre-engineered steel buildings are structures whose main parts are designed and manufactured at a factory before being transported to the project site for installation.
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Interarch said the order was awarded by a domestic customer in its normal course of business.
The company also confirmed that its promoters, promoter group and group companies have no interest in the customer that awarded the contract.
The order does not involve any related-party transaction. Interarch disclosed the development to the BSE and National Stock Exchange under Regulation 30 of SEBI’s listing rules.
The company was formerly known as Interarch Building Products Limited.