Suratwwala Business Group Limited informed stock exchanges that its subsidiary, Suratwwala Natural Energy Resource Private Limited, has been awarded a major Letter of Intent (LoI) by M/s. Shree Tatyasaheb Kore Warana SSK Ltd. The contract involves an Engineering, Procurement, and Construction (EPC) basis project for a 20 MW AC / 28.1 MW DC solar power plant located across Kolhapur and Sangli districts in Maharashtra.

The awarded contract encompasses the complete design, supply, construction, installation, testing, commissioning, as well as operation and maintenance of the solar power facility. The broad commercial consideration or size of the order is valued at Rs 69 Crores (excluding GST), alongside a comprehensive operation and maintenance cost of Rs 50 Lakhs per year with a minimum guaranteed generation of 42.0048 MUs annually. The project execution timeline is set for 4 months from the mutually agreed work schedule. The awarding entity is a domestic entity, and the company has confirmed that the transaction is at arm’s length with no promoter or group company interest.

Suratwwala Business Group Limited primarily operates in the real estate, construction, and emerging renewable energy sectors, focusing on residential and commercial developments alongside green energy initiatives. In recent developments, the company has actively expanded its footprint into the clean energy segment through its subsidiaries. Order wins like this massive solar infrastructure contract have substantially bolstered the company’s order book and are expected to translate into robust medium-term operational scale.

During the financial year 2025-2026, the company posted strong financial growth, with annual revenue expanding significantly to Rs 143.60 crores from previous periods, supported by robust execution across its segments. In its quarterly performance for fiscal 2025, the company demonstrated solid top-line figures, such as a consolidated revenue of Rs 42.1 crore and a net profit of Rs 9.3 crore reported in recent quarters, reflecting a strong year-over-year surge of over 164%. Well-known public market investors and institutional stakeholders maintain interest in the company given its diversification into high-growth verticals like solar EPC.