Jain Irrigation bags Rs 375 crore Pune contract

Jain Irrigation Systems' share price has gained 97 percent from March 23, 2020. Close Price as on May 27, 2020: Rs 6.99 and on March 23, 2020: Rs 3.55.

Jain Irrigation Systems today said it has received a contract worth Rs 375 crore contract from the Pune Municipal Corporation (PMC).

The project involves a pipeline of 508 km, installation and billing for 49,000 water meters including 1339 kms laying of utility ducts apart from water pipe line, the company said in a regulatory filing.

"We hope this will act like a model project for other cities in Maharashtra and other parts of the country also," Jain Irrigation Joint Managing Director Atul Jain said.

The company said the Pune Municipal Corporation has drawn up an ambitious plan to provide on a 24X7 basis pressurized water supply to residents in its area and also has decided to implement 100 percent smart metering covering every household of Pune city over the next five years.

The scheme envisages elimination of the Non-Revenue Water (NRW) of the city by plugging losses and upgrading the entire water supply network.

Pune is the first large city in India which will execute a project of this nature on such a large scale, it added.