DEE Development Engineers secures purchase order worth $16.5 million from international entity – CNBC TV18

Piping solutions provider DEE Development Engineers Ltd on Wednesday (December 11) announced securing a $16.5 million purchase order from a new international customer. Due to commercial sensitivities, the company has not disclosed the customer’s name.

“…we would like to inform that the company has bagged a Purchase Order from a new customer, the name of which cannot be disclosed due to commercial issues,” DEE Development Engineers said in a regulatory filing. The contract involves the supply of prefabricated pipe spools, with execution slated for completion by December 2026.

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DEE Development Engineers reported a 125% rise in consolidated profit to ₹22.26 crore in the September quarter. The company had posted a consolidated profit of ₹9.88 crore in the year-ago period, the company has said in a filing to the BSE. The consolidated income of the company during the July-September period rose to ₹210 crore over ₹186.16 crore in the year-ago period.

“We are currently setting up the New Anjar Facility II, which will scale our production capacity… This facility will be commissioned by the end of Q3 FY25 and will play a pivotal role in reducing logistics costs, enhancing production efficiency, and lowering manpower cost,” DEE Development Engineers Ltd Chairman Krishan Lalit Bansal said.

Shares of DEE Development Engineers Ltd ended at ₹354.35, up by ₹8.20, or 2.37% on the BSE.

Also Read: DEE Development expects new capacities to boost margin