Monarch Surveyors and Engineering Consultants has secured a domestic order worth ₹16.47 crore from the Maharashtra Rural Roads Development Association for implementation support under a rural roads development programme in Maharashtra. According to the latest disclosure, the contract involves appointment of a Program Implementation Support Consultant under the ADB/PISC Consulting Services for the Maharashtra Green Roads Connectivity for Inclusive Growth Programme. The engagement will support execution and monitoring of the state's rural road connectivity initiative.
The project is structured as a Joint Venture (JV), where Monarch Surveyors and Engineering Consultants holds a 70% partnership stake. As reported by Business Standard, this JV arrangement provides the company with a significant majority control in the project execution and revenue sharing structure. The company has clarified that the contract does not fall under related party transactions, and neither the promoter nor promoter group entities have any interest in the awarding body or the project. The total project value is ₹23.53 crore, with Monarch's share of the total order value being ₹16.47 crore based on the JV agreement.
The total order value of the project is ₹23.53 crore, with Monarch's share of the total order value being ₹16.47 crore. According to the MOU signed with a third-party, this represents a substantial revenue opportunity for the company in the infrastructure consulting sector. The order has been awarded by a domestic entity and is subject to necessary government and regulatory approvals. The consideration for the assignment will be in cash, with no equity stake or shareholding involved as the contract pertains purely to consultancy services. The work will be subject to necessary approvals from relevant government authorities wherever required.
The project falls under the Maharashtra Green Roads Connectivity for Inclusive Growth Program, indicating its focus on rural infrastructure development and inclusive growth initiatives. As reported by Business Standard, this award positions Monarch Surveyors and Engineering Consultants as a key player in the Maharashtra infrastructure development sector through its 70% stake in the JV structure. The project will be executed as per the Letter of Acceptance, with completion timelines aligned to contractual terms and the programme aimed at supporting road connectivity and infrastructure development in Maharashtra.
Monarch Surveyors provides end-to-end consultancy services for infrastructure projects including survey, design, and technical supervision for roads, railways, metros, town planning, geospatial mapping, land acquisition, water, transmission lines, pipelines, and other civil engineering sectors. The company reported a 16.1% rise in standalone net profit to ₹34.83 crore on a 10.5% increase in revenue to ₹154.14 crore in FY25 compared with FY24. However, the counter fell 2.25% to ₹217 on the BSE following the contract announcement.
