Armee Infotech Terminates ₹741 Cr Bondada EPC Project

Armee Infotech Ltd has announced the termination/non-execution of the Bondada EPC Project, initially awarded by Bondada Engineering Limited. The project, valued at ₹7,40,97,14,623 (₹740.97 Crore) inclusive of GST, was part of the company's order book disclosed in its Red Herring Prospectus. The termination is attributed to a substantial escalation in raw material costs, rendering the project commercially unviable under the originally agreed fixed terms. Armee Infotech had sought revisions to the commercial terms, but in their absence, communicated its inability to proceed. The company stated this decision was made after careful commercial evaluation to ensure financial prudence and protect stakeholder interests. The financial implications will be reflected in subsequent disclosures, reducing the company's outstanding order book by the project's value.