LCC Projects becomes L1 for ₹653 cr Rajasthan EPC

LCC Projects named lowest bidder for Rajasthan irrigation job

LCC Projects Limited has emerged as the lowest (L1) bidder for the Chhoti Kalisindh Irrigation Project in Rajasthan, with a contract value of ₹653.34 crore. The work is structured as an Engineering, Procurement, and Construction (EPC) contract. For an EPC contractor focused on water and irrigation infrastructure, a large state irrigation package is a direct indicator of active participation in public-sector capex and tender execution capability.

The development matters because it adds to visibility on prospective execution, especially soon after the company’s market listing in September 2026. While being L1 does not by itself confirm a final award, it typically places the bidder in pole position, subject to the awarding authority’s final checks and procedures.

What the Chhoti Kalisindh Irrigation Project entails

The company’s L1 status relates to the Chhoti Kalisindh Irrigation Project in Rajasthan. The contract is valued at ₹653.34 crore. The project has been described as an EPC contract, meaning the scope generally combines engineering, procurement of materials, and construction execution under a single arrangement.

For water infrastructure EPC companies, such projects tend to be operationally significant because they involve coordinated delivery across design, supply chain, and site execution. The size of the package also implies meaningful working-capital planning, equipment deployment, and resource scheduling, all of which investors typically track closely for EPC businesses.

Order book context: addition to a ₹7,953.18 crore pipeline

LCC Projects said the ₹653.34 crore package is a significant addition to its pre-IPO order book of ₹7,953.18 crore. The company’s order book stood at ₹7,953.18 crore as of March 31, 2026.

If the L1 status converts into a final award, the project would add incremental scale to the company’s identified pipeline. In EPC businesses, a rising order book can improve revenue visibility over the execution period, although timelines and cash-flow patterns depend on project milestones and client payment cycles.

Market snapshot: price and trading indicators available

A market snapshot shared alongside the update showed LCC Projects Limited in pre-opening at ₹146.59, down ₹0.97 (0.66%). The timestamp provided was “As on 23 Sep, 2026 | 04:00”.

The same snapshot listed a bid and ask of ₹145.40 / ₹146.70. These indicators reflect prevailing interest around that point, but do not by themselves explain price direction. For newly listed EPC stocks, trading can react to news flow on order intake, working-capital needs, and execution visibility.

IPO and listing details investors are tracking

The company was listed on September 17, 2026. The issue price was ₹146.00 and the listing price was ₹189.00. The listing open price was ₹189.0 and the listing close price was ₹170.1, with a listing gain of 29.4%.

The IPO was described as a book-built issue of ₹427.14 crore, comprising a fresh issue of ₹258.00 crore and an offer for sale (OFS) of up to ₹169.14 crore (also referenced as up to ₹169.1 crore). The price band was ₹139 to ₹146 per share, with a lot size of 102 shares. The IPO opened on September 9, 2026 and closed on September 11, 2026, and the allotment was finalised on September 15, 2026.

How IPO proceeds were slated to be used

The use of proceeds was split between the fresh issue and the OFS. Proceeds from the OFS were to go to the respective selling shareholders, while net proceeds from the fresh issue were planned for specific corporate purposes.

The stated allocations included ₹14.69 crore for purchase of equipment and ₹180.00 crore for prepayment and/or repayment of certain outstanding borrowings. Remaining proceeds were earmarked for general corporate purposes.

Promoter holding and company profile details

The shareholding pattern shared shows promoters holding 89.90% and public holding 5.26%, with additional holdings shown as 2.57% and 2.27%. The company’s NSE symbol was provided as LCCPROJECT.

LCC Projects Limited is described as a multidisciplinary EPC company primarily engaged in irrigation and water supply projects. It is involved in such EPC projects in 12 states of India. The company was incorporated on December 28, 2017, after evolving from the partnership firm Laxmi Construction Co. (founded in 2004), according to the details provided.

Key facts table: contract, order book, and market data

IPO summary table: key parameters and dates

What to watch next

The immediate next step investors usually monitor after an “L1” update is whether the awarding authority issues the final letter of award and the expected execution schedule. For EPC contractors, subsequent disclosures often cover mobilisation timelines, milestone structures, and any material conditions.

Separately, the market will continue to track the company’s order book trajectory, deployment of IPO fresh-issue proceeds toward equipment purchase and debt repayment, and how these decisions align with project execution requirements.

Conclusion

LCC Projects Limited’s L1 position for the ₹653.34 crore Chhoti Kalisindh Irrigation Project in Rajasthan highlights active tender participation and potential addition to its ₹7,953.18 crore order book reported as of March 31, 2026. After listing in September 2026, the company remains in focus for updates on final award confirmation, execution timelines, and order inflows tied to irrigation and water supply EPC work.