Denta Water Secures Two Orders Totalling Rs 655.63 mn

The letter of acceptance from Karnataka Neeravari Nigam Limited (KNNL) is for a contract valued at Rs. 20,88,92,101 including GST 18 per cent, equivalent to Rs. 208.89 mn. The work comprises improvements to two pickups and four pickup canals, enhancements to Kolur lift irrigation system and construction of Korlagundi and Dammur lift irrigation systems in Ballari taluk and district under a KMERC grant. The contract is on a turnkey basis with execution scheduled within 11 months and operation and maintenance for five years after completion.

The company said it has received a subcontract from JNS Infra Projects Private Limited (JNS) for Rs. 44,67,43,341 including GST 18 per cent, equivalent to Rs. 446.74 mn. The subcontract covers restoration and improvements to 16 pickups and 18 pickup canals and provision of mild steel pipeline for the raising main to the Jalibenchi lift irrigation scheme under D-15 of RBHLC in Ballari. The subcontract is to be executed within 11 months.

The filings noted that the orders were awarded by domestic entities and that promoters and promoter group do not have any interest in the KNNL contract. The subcontract was disclosed as falling within related party transactions but the company stated it was at arm's length and that necessary approvals have been obtained. The company secretary and compliance officer submitted the application and requested that the exchanges take the records on file.