The Rajasthan contract, worth ₹653.34 crore, covers the Chhoti Kalisindh Medium Irrigation Project in Jhalawar district. LCC will take an EPC turnkey role, handling design, procurement and construction. The initiative will employ sprinkler irrigation and solar power along the Chhoti Kalisindh and Chahurni rivers in Gangdhar tehsil. The project, slated for completion in 36 months, marks a significant domestic order for the Gujarat‑based firm.
The bid was the lowest among a competitive field, securing the contract ahead of other infrastructure players. The Water Resources Department in Kota awarded the project after a thorough evaluation of technical and financial proposals. The company highlighted its experience in irrigation projects as the key differentiator.
Shares of LCC fell 1.9% on the NSE, closing at ₹143.80 compared with ₹146.59 the previous session. The dip followed the announcement, indicating that investors are cautious about the project’s long‑term financial impact. On the BSE, the shares ticked down modestly, reflecting a similar sentiment across exchanges.
The firm’s IPO, priced at ₹146, saw a 31.44% premium on the BSE and a 29.45% surge on the NSE on debut. The ₹427.1 crore offering was subscribed 48.51 times, with institutional investors contributing 78.69 times and retail 25.56 times. LCC plans to allocate ₹180 crore from the fresh issue to repay borrowings and ₹14.6 crore for equipment.
Looking ahead, LCC expects the new contract to bolster its revenue pipeline, with the company projecting an uptick in earnings as the project progresses. No formal guidance has been issued yet, but analysts anticipate a gradual lift in margins once the EPC phase concludes. Investors will be watching the construction milestones and cash‑flow impact closely.