Desco InfraTech Receives ₹3.03 Crore IOCL LOA; Shares At ₹157.20

Mumbai, September 09: Desco InfraTech Limited has received a Letter of Acceptance from Indian Oil Corporation Limited for gas infrastructure works in Visakhapatnam, Andhra Pradesh, with the contract valued at ₹3.03 crore including GST.

The company said in an exchange disclosure that the LOA relates to the project titled “Execution of Last Mile Connectivity (LMC) / GI Installation & Direct Marketing Agency (DMA) Works in Vizag GA in state of Andhra Pradesh.”

The contract has been awarded by Indian Oil Corporation and covers the empanelment of contractors under a Zonal Rate Contract for the specified gas infrastructure activities.

The total consideration is ₹30,290,271, inclusive of GST, which works out to approximately ₹3.03 crore.

The latest disclosure follows Desco InfraTech’s earlier intimation dated August 13, 2026, when the company had informed exchanges that it had emerged as the L1 bidder for the IOCL project.

Stock Market Snapshot

The Desco InfraTech share price stood at ₹157.20 as of 10:34 AM IST on September 9, 2026, according to the market data shown.

The stock moved sharply higher after the opening and reached levels above ₹158 before giving up some of those gains. It also briefly slipped below the ₹155 level during the session before recovering towards ₹157.

The available chart does not display an explicit percentage change at the latest timestamp. Accordingly, no percentage movement has been attributed to the stock in this report.

Contract Covers Last-Mile Gas Connectivity

The order involves work related to last-mile connectivity, GI installation and Direct Marketing Agency activities within IOCL’s Vizag geographical area.

The filing classifies the awarding entity as a domestic company, while the execution period will be governed by the terms of the contract. Desco InfraTech has not disclosed a separate fixed execution timeline in the exchange intimation.

The company also confirmed that neither the promoter nor the promoter group has any interest in the entity awarding the contract. The filing does not classify the transaction as a related-party arrangement.

Desco InfraTech Expands Gas Infrastructure Order Pipeline

Desco InfraTech operates in infrastructure-related contracting activities, with its business exposure including projects associated with utilities and energy infrastructure.

The IOCL contract adds another project to its gas infrastructure pipeline and follows the company’s earlier L1 position for the same assignment. With the LOA now received, the contract moves from the bidding stage into the awarded-work stage, subject to the applicable contractual terms.

For the company, the order also provides near-term execution activity in the Vizag geographical area.

Conclusion

Desco InfraTech has received a ₹3.03 crore Letter of Acceptance from Indian Oil for last-mile connectivity, GI installation and Direct Marketing Agency works in the Vizag geographical area of Andhra Pradesh.

The LOA follows the company’s earlier emergence as the L1 bidder for the project and carries a value of ₹30.29 million, inclusive of GST. The execution period will be as specified under the contract.

Meanwhile, the Desco InfraTech share price was at ₹157.20 as of 10:34 AM IST on September 9, 2026. The stock remained above the ₹157 level after recovering from a brief decline below ₹155 during the morning session.

Source:

• https://www.bseindia.com/stock-share-price/desco-infratech-ltd/desco/544387
• https://www.bseindia.com/xml-data/corpfiling/AttachLive/5b16355f-f5b0-44af-8d1d-6cddf1cc725b.pdf