Vishnu Prakash R Punglia secures ₹78 crore order from Jaipur Development Authority

Engineering, procurement, and construction (EPC) firm, Vishnu Prakash R Punglia Limited, on Saturday (July 12) said it has received a Letter of Acceptance dated July 12, 2025, from the Jaipur Development Authority (JDA) for a new infrastructure project.

The contract is valued at ₹77.9 crore. The order pertains to the construction of a Road Over Bridge (ROB) at Saligrampura Phatak, on the Jaipur–Sawai Madhopur (JP-SWM) railway line, located in Zone-14 of JDA Jaipur. The company clarified that the project falls within the normal course of its business operations.

Last month, ratings agency CARE Ratings had downgraded Vishnu Prakash R Punglia's rating and outlook on the company's short and long-term bank facilities. In its note, CARE has downgraded VPRPL's long-term bank facilities worth ₹200 crore to CARE BBB with a negative outlook from its earlier rating of CARE BBB+ with a stable outlook.

Also Read: Vishnu Prakash R Punglia shares rise on securing road construction project in Rajasthan

Additionally, VPRPL's long-term and short-term bank facilities worth ₹760 crore have also been downgraded to CARE BBB and CARE A3, respectively, with a negative outlook from CARE BBB+ and CARE A3+, respectively, with a stable outlook.

CARE wrote in its note that the outlook revision from stable to negative is driven primarily by a continued increase in VPRPL's working capital intensity in the financial year 2025, leading to a greater dependence on working capital borrowings and adversely impacting the company's liquidity profile. The revision also factors in a lower-than-expected scale of operations in the previous financial year, according to CARE.

Shares of Vishnu Prakash R Punglia Ltd ended at ₹161.10, up by ₹0.30, or 0.19%, on the BSE.

Also Read: Vishnu Prakash R Punglia bags ₹103 crore contract to build bridges for North Western Railway