Shares of SPML Infra Ltd hit a 5% upper circuit on 10 March after the company announced securing a significant irrigation project worth Rs 618 crore from the Jharkhand government.

In an exchange filing, the corporation revealed the arrangement for a major irrigation project under the Konar Irrigation Project with the Water Resource Department of the Hazaribagh district. The goal of this turnkey project is to upgrade irrigation systems throughout 12,599.43 hectares of farmland in the Bisnugarh block (Hazaribagh), Nawadih block (Bokaro), and Dumri block (Giridih) of Jharkhand.

Subhash Sethi, Chairman of SPML Infra, said, “This project aligns with our commitment to delivering sustainable water management solutions that enhance agricultural productivity and improve farmers’ livelihoods. By leveraging advanced technology and efficient execution, we aim to complete the project within the stipulated timeline while ensuring high standards of quality and reliability.”

The project, awarded to SPML Infra in collaboration with Vijay Kumar Mishra Construction, has a total value of Rs 617.98 crore and aims to improve irrigation systems on 12,599.43 hectares of agricultural land in Jharkhand’s Bisnugarh (Hazaribagh), Nawadih (Bokaro), and Dumri (Giridih).

Open channels will be used to rebuild, repair, and fortify the main canal, right branch canal, and their distributaries, sub-distributaries, and minor canals.   Other projects include a solar-powered pump house with a sump, a pressure pipe water transport system, an approach channel, and canal lining.

A modern pipeline network of HDPE, DI, and MS pipes up to 1200 mm in diameter will be coupled to an advanced pipe distribution network (PDN) and control mechanisms. Supporting infrastructure, such as approach roads, boundary walls, and service roads, will also be constructed.

To ensure long-term efficiency, the project includes a 10-year post-construction phase dedicated to operation, maintenance, and management (O&M).

At 3:30 pm, the shares of SPML Infra closed 5% higher at RS 176 on NSE.

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