Ramky Infra signs two contracts for the reclamation of Chennai’s Kodungaiyur dumping area, totaling Rs 216.65 million

Ramky Infrastructure said on Wednesday that it has signed two contracts with the Greater Chennai Corporation in Chennai, Tamil Nadu, to use biomining to reclaim the Kodungaiyur Dumping Ground. “We are happy to announce that the business has signed two contracts for the “Reclamation of Kodungaiyur Dumping Ground by Biomining” (Packages 2 and 5) with Greater Chennai Corporation, Chennai, Tamil Nadu. According to a regulatory filing by the business, “These contracts have enhanced Ramky Infrastructure Limited’s capability in the field of providing eco infrastructure solutions to society and nation at large.”

It further said that the two orders must be completed within the next two years and four months. It said that the two orders are for a combined consideration of Rs 176.77 crore and Rs 39.88 crore, not including GST.

The company had also announced earlier this month that Chivukula Vasudev, the Chief Financial Officer and Key Managerial Personnel of the company, had tendered his resignation. The board accepted the resignation and relieved him of his duties, effective as of the close of business on March 4, 2024.

Ramky Infrastructure reported its third-quarter profits in February, showing a 436.47 percent profit rise to Rs 36.48 crore from Rs 6.80 crore in the same quarter last year, which ended in December 2022. In contrast, sales increased 5.70 percent to Rs 440.72 crore in Q3 from Rs 416.97 crore in the same time the previous year.