State-owned engineering and construction firm IRCON International Ltd on Monday (March 17) said the company in a joint venture with Badri Rai and Company (BRC), has secured an Engineering, Procurement, and Construction (EPC) contract worth ₹1,096.17 crore from the Directorate of Urban Affairs, Government of Meghalaya.

“…it is to inform that IRCON has been awarded an EPC contract floated by Directorate of Urban Affairs, Government of Meghalaya, Raitong Building, Secretariat Hills, Shillong, Meghalaya, India in JV {Badri Rai and Company (BRC) (74%) -IRCON (26%) JV} LoA by Directorate of Urban Affairs, Government of Meghalaya, Raitong Building, Secretariat Hills, Shillong, Meghalaya, India,” IRCON International said in a regulatory filing.

The project involves the construction of a new Secretariat Complex, including campus infrastructure, in New Shillong City. IRCON holds a 26% share in the joint venture, amounting to ₹285 crore, while BRC holds the remaining 74%. The contract has a completion timeline of 36 months.

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For the third quarter, IRCON International reported a 65% drop in net profit to ₹86 crore for the October-December quarter of FY25 compared to ₹244 crore in the year-ago quarter.

The company reported a 10% drop in revenue from operations to ₹2,612.86 crore for the third quarter of FY2024-25, compared to ₹2,929.54 crore in the same period of the last fiscal year.

The company’s EBITDA dropped to ₹218.3 crore in Q3FY25 from ₹378.1 crore in Q3FY24, with an EBITDA margin of 8.1%. The total order book of Ircon International stood at ₹21,939 crore as of December 31, 2024.

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Shares of IRCON International ended at ₹138.25, down by ₹2.15, or 1.53%, on the BSE.