Welspun Enterprises Ltd (WEL) has been awarded a Letter of Award (LOA) from the Maharashtra State Infrastructure Development Corporation Ltd (MSIDC) for the construction of a six-lane partially elevated highway corridor along NH-753F, specifically in the Pune–Shirur section of Maharashtra. The total project cost is estimated at approximately ₹7,300 crore.
The LOA, issued on April 29, 2026, is part of a government-to-government initiative between the Ministry of Road Transport and Highways (MoRTH) and the Maharashtra Public Works Department, with MSIDC serving as the implementing and tendering body.
The project will extend from Km 10+600 to Km 64+000, achieving a minimum design length of 53.40 km. It will be developed under a Design, Build, Finance, Operate, and Transfer (DBFOT) toll framework, which includes a sub-concession period of 29 years, encompassing a four-year construction phase starting from the appointed date.
This award enhances WEL’s order book, which has increased to approximately ₹18,755 crore from ₹13,341 crore as of December 31, 2025, after accounting for fourth-quarter FY26 execution. The order book is segmented across three main areas: Water (₹10,813 crore, including ₹5,393 crore from operations and maintenance and asset replacement), Tunneling (₹1,791 crore), and Transportation (₹6,152 crore, which includes this current project).
The new corridor is anticipated to alleviate traffic congestion and boost freight movement through major nodes such as Wagholi, Kharadi, Lonikand, Ranjangaon, and Shikrapur.
Sandeep Garg, Managing Director of WEL, noted that this addition diversifies the order book across various verticals and enhances revenue visibility. The company’s trading window for designated personnel connected to this project has been closed since April 1, 2026.
As of today, shares of Welspun Enterprises Ltd (WEL) were trading at ₹530.50, reflecting a decrease of ₹9.60 or 1.78 percent, as reported at 11:52 am.
Published on April 30, 2026.
