IRCON Share Price in Focus as Joint Venture with Badri Rai Secures Over ₹763 Crore Contract from TSECL

On June 23, 2026, IRCON International Limited, in a joint venture with Badri Rai & Company, received a Letter of Award from Tripura State Electricity Corporation Limited (TSECL). The contract, valued at ₹763,10,28,794, involves the design, engineering, and commissioning of an underground power cable network and smart grid applications in Agartala. 

Details of the Contract Award 

The joint venture between IRCON and Badri Rai & Company, with a share ratio of 26:74, has been awarded a works contract by TSECL. The project includes the design, engineering, manufacture, assembly, inspection, testing, and commissioning of an underground power cable network, smart grid applications, and related systems in the Agartala Municipality Area, Tripura. 

The contract is valued at ₹763,10,28,794, inclusive of GST at 18%. Badri Rai & Company, as the lead partner, holds a 74% share amounting to ₹564,69,61,307.60, while IRCON holds a 26% share, amounting to ₹198,40,67,486.40. 

Scope and Timeline of the Project 

The contract involves the implementation of smart grid applications, including Supervisory Control and Data Acquisition (SCADA), Advanced Distribution Management System (ADMS), Outage Management System (OMS), and GIS mapping. The project also includes the laying of Optical Fiber Cable (OFC) and the establishment of a Smart Grid Control Centre. 

The project is set to be executed within 24 months, with a focus on integrating third-party IT application software and hardware, such as billing, ERP, and CIS systems. 

Read More: Blue Cloud Softech Share Price Rallies Over 40% in 2 Days on AI Opportunity Discussions with SpaceX! 

Financial Aspects and JV Structure 

The joint venture structure allows Badri Rai & Company to lead with a 74% share, while IRCON holds a 26% stake. The total project value is ₹763,10,28,794, with Badri Rai & Company's share valued at ₹564,69,61,307.60 and IRCON's share at ₹198,40,67,486.40. 

Ircon Share Price Performance 

As of June 23, 2026, at 3:30 PM, Ircon share price on NSE was closed at ₹136.45, down by 1.93% from the previous closing price. 

Conclusion 

The IRCON and Badri Rai & Company joint venture has secured a ₹763,10,28,794 contract from TSECL for the development of an underground power cable network and smart grid applications in Agartala. The project is to be completed within 24 months. 

Track the stock market in Hindi. Visit Angel One News for the latest market trends, insights, and share market news in Hindi. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.