BEML Secures ₹501 Crore DMRC Order for Mumbai Metro Expansion

BEML, headquartered in Bengaluru, has secured a ₹501 crore order from Delhi Metro Rail Corporation (DMRC) for additional 12 train sets, each consisting of six cars. This order, detailed in a recent regulatory filing, will support operations on Mumbai Metro lines 2B and 7. With this new contract, BEML's total contract value has risen from ₹3,817 crores to ₹4,318 crores. The company is expected to complete the delivery before August 2023.

At 09:55 am, BEML’s stock was trading at ₹669.90 on the BSE, marking a 2.21% increase from its previous close. Chairman and Managing Director Deepak Kumar Hota highlighted the government's infrastructure development plans and their potential to boost BEML's growth in the mining and construction equipment sectors.

Additionally, BEML officials noted that the government has urged companies to accelerate capital expenditure. Many tenders are anticipated from Coal India and the steel industry, signaling further growth opportunities for BEML.

To enhance indigenisation, BEML has called for expressions of interest from global OEMs for manufacturing and technology partnerships. This initiative aligns with the Aatmanirbhar Bharat objective, aiming to bolster the company's capabilities in defense, aerospace, rail and metro, and mining and construction sectors.

News by Rahul Yelligetti