Power Mech Projects shares rally nearly 11% on bagging ₹296 crore Mumbai monorail contract

This comes after the Hyderabad-based firm secured a ₹296 crore, excluding GST, Mumbai monorail contract from Maha Mumbai Metro Operation Corporation Limited (MMMOCL).

The stock was trading 8.23% higher at ₹2,249 per equity share at around 1:49 PM.

The scrip has advanced 19% in the past week and 14% over the month. On a year-to-date basis, it has declined 1%.

While the share hit a 52-week high of ₹3,415 on July 10, 2025, it touched a year’s low of ₹1,717.70 apiece on March 30, 2026.

Contract win

In a regulatory filing, the company stated it bagged the operations & maintenance (O&M) contract from MMMOCL for the Mumbai Monorail project.

Under the contract, Power Mech Projects will operate and maintain a 19.54-kilometer route in the Mumbai Metro, covering 17 stations from Sant Gadge Maharaj Chowk to Chembur for a period of 5 years.

Furthermore, the firm will undertake comprehensive O&M services, including operating new advanced rolling stock, along with the new and upgraded communication-based train control (CBTC) signaling system.

The Mumbai Monorail, in service since 2014, is India’s only straddle monorail system.

Commenting on the development, Sajja Kishore Babu, Chairman and Managing Director, said: “This contract signifies PMPL’s entry into the urban mobility sector and reinforces our position as a prominent O&M company in the nation’s rapidly expanding infrastructure sectors. This project strengthens PMPL’s strategic fit by creating a powerful synergy between our core industrial O&M competencies and the specialized demands of urban transit.”

He added that the company, with extensive experience in the O&M of power plants, “is committed to deploying qualified personnel and delivering the highest standards of services across the Mumbai Monorail.”

“We remain focused on efficient and on-time performance, along with enhanced safety and comfort for passengers. With improving connectivity to other metro, suburban, and railway lines, PMPL’s operations will be servicing a greater number of commuters over time,” Babu stated.

Power Mech Projects has a total market capitalisation of ₹7,113.03 crore as of April 10, 2026, according to data on the NSE.