Enviro Infra Engineers share price jumps 6% as JV secures ₹395 crore order
The company informed the exchanges on Wednesday that it had entered into a joint venture (JV) with AltoraPro Infrastructure Pvt Ltd under the name "Enviro Infra Engineers Limited AIEPL JV." The JV has received a Letter of Intent (LOI) dated July 8, 2025, for a project involving the design, supply, installation, construction, testing, commissioning, and operation & maintenance of a Common Effluent Treatment Plant (CETP).
The project, awarded by the Maharashtra Industrial Development Corporation (MIDC), is valued at ₹ 395 crore and is expected to be executed within 24 months. Enviro Infra Engineers is the lead member in the JV, and this order marks a significant addition to the company's execution pipeline.
This marks the company's second major order in less than three weeks. On June 23, Enviro Infra Engineers had secured engineering, procurement, and construction (EPC) contracts for sewage treatment plants (STPs), including 15 years of operation and maintenance (O&M), from various municipal corporations in Chhattisgarh. The combined value of these projects was ₹ 306.30 crore.
Meanwhile, the company recently forayed into the renewable energy sector by acquiring two key solar power projects with a combined capacity of 69 MW (AC).
The company's shares made their stock market debut in November 2024, listing at ₹ 220 on the NSE, marking a 48.65% premium over the issue price of ₹ 148. The stock maintained its momentum in the following months, touching a fresh peak of ₹ 391.60.
However, the stock could not sustain its upward move after hitting the all-time high. At current levels, it is trading 35% below its peak, but still 72.3% higher than its IPO price.
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