Home / Business and Economy / SWPE Wins Big: Rs 307 Crore Mining Deal in Rajasthan
SWPE Wins Big: Rs 307 Crore Mining Deal in Rajasthan
28 Feb
Summary
- SWPE secures Rs 307 crore mineral exploration contract in Rajasthan.
- Contract with Hindustan Zinc subsidiary HMESPL spans four years.
- Company's Q3 profit surged 121.6% to Rs 9.22 crore.
South West Pinnacle Exploration (SWPE) has secured a substantial Rs 307 crore work order from Hind Metal Exploration Services (HMESPL), a subsidiary of Hindustan Zinc. This contract focuses on providing mineral exploration services within Rajasthan and is set to be executed over a four-year period following initial mobilization. Key terms of the agreement include the swift mobilization of machinery, manpower, and resources within 45 days. SWPE will also be responsible for constructing the necessary approach roads.
HMESPL, the client, will handle statutory and environmental clearances. SWPE offers comprehensive drilling and exploration services for various natural resources. The company's financial performance has shown significant growth, with its consolidated net profit soaring by 121.6% to Rs 9.22 crore in the third quarter of FY26 compared to the same period last year. This profit increase was accompanied by a 29.1% rise in net sales, reaching Rs 62.67 crore.
