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Power Mech Projects has secured an Operations & Maintenance (O&M) contract from Maha Mumbai Metro Operation Corporation (MMMOCL) for the Mumbai Monorail. The contract covers O&M of the 19.54 Km route and 17 stations, from Sant Gadge Maharaj Chowk to Chembur in Mumbai for a period of 5 years. The award represents a total contract value of Rs. 296 crore (excluding GST).
The Mumbai Monorail, in service since 2014, is India's only straddle monorail system. Under this contract, the company will undertake comprehensive O&M services which include operating new advanced rolling stock and the new and upgraded Communication Based Train Control (CBTC) signaling system.
The contract covers O&M of the 19.54-km route and 17 stations between Sant Gadge Maharaj Chowk and Chembur in Mumbai for a period of five years. The order is valued at Rs 296 crore.
Under the contract, the company will undertake comprehensive O&M services, including operation of new rolling stock and upgraded Communication Based Train Control (CBTC) signalling system for India’s only straddle monorail system, which has been in service since 2014.
Sajja Kishore Babu, chairman and managing director (MD) said: “I am delighted to announce that PMPL has secured a major and strategically significant new award for the Operations and Maintenance of the Mumbai Monorail. This contract signifies PMPL’s entry into the urban mobility sector and reinforces our position as a prominent O&M company in the nation’s rapidly expanding infrastructure sectors.
This project strengthens PMPL’s strategic fit by creating a powerful synergy between our core industrial O&M competencies and the specialized demands of urban transit. PMPL, with extensive experience in the O&M of power plants, is committed to deploying qualified personnel and delivering the highest standards of services across the Mumbai Monorail.
We remain focused on efficient and on-time performance, along with enhanced safety and comfort for passengers. With improving connectivity to other metro, suburban and railway lines, PMPL’s operations will be servicing a greater number of commuters over time.
This award reflects the confidence placed in PMPL’s technical expertise, execution discipline and safety-first culture. Urban transit O&M demands 24x7 readiness, high reliability and strict compliance, areas where PMPL has consistently delivered. We remain committed to supporting MMMOCL in enhancing service reliability and passenger experience through a smooth transition process.”
Power Mech Projects is an engineering and construction company providing integrated service in erection, testing, and commissioning (ETC) of boilers, turbines, and generators and balance of plant (BOP), civil works, and operation and maintenance (O&M).
The company reported a 14.6% year-on-year increase in consolidated net profit to Rs 93.99 crore in Q3 FY26, compared with Rs 82.03 crore recorded in Q3 FY25. Revenue from operations (net sales) rose 6.1% YoY to Rs 1,419.56 crore for the quarter ended 31 December 2025, as against Rs 1,337.97 crore in the corresponding period last year.
The scope of work includes erection, testing, commissioning and manpower assistance for performance guarantee tests of Steam Generator (SG) and Steam Turbine Generator (STG), along with auxiliaries, for Unit 1 and 2 of the 2x800 MW Mirzapur Phase-I and Mahan Phase-III projects.
The Mirzapur order is valued at Rs 515 crore, while the Mahan order is worth Rs 490 crore (excluding GST and applicable taxes). The projects are to be executed within 36 months from the erection start date as notified under the Notice to Proceed (NTP).
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Mahindra & Mahindra(up 2.32%), LG Electronics India(down 1.29%), Lenskart Solutions(down 0.47%), Ashok Leyland(up 1.74%), Aarey Drugs & Pharmaceuticals(up 1.37%), Amagi Media Labs(up 1.40%), Amara Raja Energy & Mobility(down 0.33%), AstraZeneca Pharma India(up 0.64%), Avanti Feeds(up 0.88%), CARE Ratings(down 0.49%), Carraro India(down 1.27%), Divis Laboratories(up 0.65%), Godrej Industries(down 1.16%), Max Financial Services(down 0.43%), Patanjali Foods(up 0.11%), TBO Tek(down 0.30%), and Yatra Online (up 1.28%) will announce their quarterly earnings today.
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Whirlpool of India (up 3.01%), Titan Company (up 1.55%), Crompton Greaves Consumer Electricals (up 1.51%), V-Guard Industries (up 1%), Amber Enterprises India (up 0.87%), Kajaria Ceramics (up 0.76%), Voltas (up 0.32%), Blue Star (up 0.2%) and Century Plyboards (India) (up 0.06%) surged.
Stocks in Spotlight:
Jubilant FoodWorks shed 0.98%. The company reported 68.6% increase in consolidated net profit to Rs 72.9 crore on a 13.3% increase in revenue from operations to Rs 2,437.2 crore in Q3 FY26 as compared with Q3 FY25.
Power Mech Projects declined 4.11%. The company reported a 14.6% year-on-year increase in consolidated net profit to Rs 93.99 crore in Q3 FY26, compared with Rs 82.03 crore recorded in Q3 FY25. Revenue from operations (net sales) rose 6.1% YoY to Rs 1,419.56 crore for the quarter ended 31 December 2025, as against Rs 1,337.97 crore in the corresponding period last year.
Profit before tax (PBT) for the quarter stood at Rs 123.86 crore in Q3 FY26, up 2.1% from the Rs 121.32 crore reported in Q3 FY25.
Total expenses increased 6.78% to Rs 1,309.10 crore in Q3 FY26 as compared with Rs 1,225.98 crore in Q3 FY25. The cost of raw material consumed stood at Rs 233.26 crore (up 8.84% YoY), and employee benefit expenses were at Rs 191.86 crore (up 11.85% YoY) during the period under review.
The counter slipped 3.56% to Rs 2,191.25 on the BSE.
The project is structured under a build-own-operate (BOO) model with a 100% off-take guarantee from WBSEDCL. A greenshoe option of 250 MW / 1,000 MWh is also included for the Durgapur Project (DPL) campus in Durgapur, West Bengal.
Hyderabad-based Power Mech Projects is one of the leading infrastructure construction companies.
The company reported an 11.70% increase in consolidated net profit to Rs 74.92 crore in Q2 FY26, compared to Rs 67.07 crore recorded in Q2 FY25. Revenue from operations jumped 19.54% YoY to Rs 1,237.87 crore for the quarter ended 30 September 2025.