LCC Projects JV wins Rs 717.46 crore reservoir order

LCC Projects Limited disclosed on November 6, 2026 that its 30%-share NEC-LCC joint venture received a Rs 717.46 crore letter of acceptance, excluding Goods and Services Tax (GST), to build and maintain an artificial reservoir in Churu, Rajasthan, with 24 months of construction and a 10-year operations and maintenance commitment.

What contract has LCC Projects’ joint venture received?

LCC Projects’ NEC-LCC joint venture, or JV, received a letter of acceptance from the Office of the Additional Chief Engineer, Yamuna Water Zone, Jaipur, for a domestic contract valued at Rs 717.46 crore excluding GST. LCC Projects notified BSE Limited and the National Stock Exchange of India Limited of the award on November 6, 2026, after issuing an investor release dated November 5, 2026.

The contract is on an engineering, procurement and construction, or EPC, turnkey basis, according to Annexure A in the filing. The awarding authority issued the order to M/s NEC-LCC (JV), rather than directly to LCC Projects, and the company stated that it holds a 30.00% share in that JV.

The Rs 717.46 crore figure is the value disclosed for the full NEC-LCC JV contract, not a separately reported value attributable to LCC Projects. Although the filing gives LCC Projects’ 30.00% JV share, it does not state how revenue, costs, cash flows or profit from the reservoir project will be divided between the partners.

What work will the LCC Projects JV perform in Rajasthan?

The NEC-LCC JV will construct an artificial reservoir at Dhanoti, identified as Reservoir-A of the Hansiyawas Reservoir Complex in District Churu Phase-I under the Yamuna Water Project. The project site is in Tehsil Rajgarh, District Churu, Rajasthan, and its Rs 717.46 crore scope includes survey, design, construction and operations and maintenance of the reservoir system.

The contract therefore covers both engineering inputs and physical delivery, because survey and design are listed alongside construction of Reservoir-A. It also includes operations and maintenance, or O&M, for 10 years, extending the disclosed obligations beyond the 24-month construction period.

LCC Projects said the order was received in the ordinary course of its regular civil construction and contracting activities. Annexure A classifies both the customer and the contract as domestic, placing the Churu reservoir package within LCC Projects’ domestic EPC activities rather than an international project.

How long will the LCC Projects reservoir contract run?

The contract provides for 24 months of construction, including the rainy season, and a 10-year O&M period. These terms create two disclosed stages for the Dhanoti reservoir: the construction programme and the longer operating and maintenance commitment for the completed reservoir system.

Measured in years, the 10-year O&M period is five times the two-year construction period. However, the Rs 717.46 crore contract value is stated only as one aggregate amount, with no disclosed split between construction work and the O&M obligation.

LCC Projects has not disclosed a construction start date, a completion date or the date on which the 10-year O&M period will begin. The November 5, 2026 investor release confirms that the letter of acceptance had been received, but gives no milestone schedule for survey, design, construction or reservoir operations.

What does LCC Projects’ 30% JV share establish?

LCC Projects’ 30.00% share establishes its participation in NEC-LCC JV, the entity awarded the Rs 717.46 crore reservoir package. It does not establish a directly reported company-level order value, because the filing gives no allocation of the contract amount to LCC Projects beyond its ownership share.

The JV structure is material to the announcement because the Office of the Additional Chief Engineer, Yamuna Water Zone, Jaipur awarded the work to NEC-LCC JV. LCC Projects’ November 6, 2026 disclosure identifies its role through the 30.00% shareholding rather than as the sole contractor for the Churu project.

Annexure A also states that LCC Projects’ promoters, promoter group and group companies have no interest in the awarding entity. It further says the Rs 717.46 crore order is not a related-party transaction, adding governance disclosures to the contract’s commercial terms.

What has LCC Projects management said about the award?

Arjan Suja Rabari, Chairman and Managing Director of LCC Projects, said the JV award associates the company with the Yamuna Water Project through a reservoir package. He described the project as part of water-infrastructure and river-linking initiatives aimed at water security, irrigation potential and sustainable development in water-stressed regions.

Rabari said the project strengthens order-book visibility and represents continued expansion into large-scale water infrastructure development. These are management views: the November 5, 2026 release does not quantify LCC Projects’ existing order book, project margin, funding requirement, revenue timing or expected contribution from the Rs 717.46 crore contract.

Management also referred to a pipeline of opportunities across infrastructure segments and said it was confident of sustaining growth momentum. The release’s safe-harbour statement says forward-looking statements on plans, objectives and potential project characteristics involve risks and uncertainties, and actual results may differ materially.

Conclusion

The disclosed outcome is that LCC Projects will participate through its 30.00%-share NEC-LCC JV in a Rs 717.46 crore, GST-excluded domestic EPC contract for Dhanoti Reservoir-A in Churu, Rajasthan. The package combines survey, design and construction with a 10-year O&M requirement, rather than ending with the 24-month construction period.

The next disclosed matter to watch is execution of the 24-month construction programme, which includes the rainy season, followed by the 10-year O&M phase. LCC Projects said it will update stakeholders on further developments, while the start date, JV financial allocation, construction-to-O&M value split and payment terms remain undisclosed.