Enviro Infra Engineers share price soars 11% after securing projects worth ₹306 crore, solar energy foray

Enviro Infra Engineers, a recent entrant to the Indian stock market, saw its shares surge 11.4% in early trade on Tuesday, June 24, hitting a 3-week high of ₹235 apiece. The rally followed the company's announcement that it had secured domestic projects worth ₹306.30 crore, prompting a positive shift in investor sentiment.

In its exchange filing today, the company said it had won engineering, procurement, and construction (EPC) contracts for sewage treatment plants (STPs) with 15 years of operation and maintenance (O&M) from various municipal corporations in Chhattisgarh. These include 16, 14, and 2 MLD STPs from the Municipal Corporation of Ambikapur, 15 and 26 MLD STPs from Rajnandgaon, and a 33 MLD STP from Korba.

Commenting on the development, Mr. Sanjay Jain, Chairman & Whole-Time Director, said, “We are proud to have been entrusted with these significant projects by government bodies. Our focus remains on delivering high-quality, sustainable, and timely solutions that contribute to the nation’s water management and sanitation goals. We are committed to maintaining the highest standards of engineering and execution.”

In a separate development, the company also announced its official foray into the renewable energy sector by acquiring two key solar power projects with a combined capacity of 69 MW (AC). It acquired Vento Power Infra Private Limited for a 40 MW grid-connected solar project in Odisha’s Bolangir district, where power will be sold at ₹4.10 per unit for approximately 18 years.

The second acquisition, Soltrix Energy Solution Private Limited, involves a 29 MW solar power project in Maharashtra. This project includes design, financing, engineering, procurement, construction, operation, and maintenance and is backed by State Financial Assistance (SFA) of ₹3.20 crore per MW, totaling ₹92.80 crore. The plant is expected to generate revenue at a tariff of ₹0.88 per unit over a 25-year period, according to the company's exchange filing. 

Commenting on this strategic move, Mr. Jain said, “With these projects, the company has officially entered the renewable energy sector, aligning with its long-term vision for sustainable, clean, and future-ready growth. The company remains focused on delivering high-quality, timely, and sustainable energy solutions while upholding the highest standards of engineering excellence and governance.”

About Enviro Infra Engineers

The company is in the business of designing, constructing, operating, and maintaining water and wastewater treatment plants (WWTPs) and water supply scheme projects (WSSPs) for government authorities and bodies.

WWTPs include Sewage Treatment Plants (STPs), Sewerage Schemes (SS), and Common Effluent Treatment Plants (CETPs), while WSSPs include Water Treatment Plants (WTPs) along with pumping stations and laying of pipelines for supply of water (collectively, “Projects”).

In addition to the execution of projects independently, the company also enters into joint ventures with other infrastructure and construction companies to jointly bid and execute projects. The company bids for tenders issued by state governments and urban local bodies (ULBs) to develop wastewater treatment plants (WWTPs) and water supply system projects (WSSPs) on an EPC or HAM basis.

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