Vishnu Prakash R Punglia Limited  is an ISO 9001:2015 certified integrated engineering, procurement and construction (“EPC”) company with experience in design and construction of various infrastructure projects for the Central and State Government, autonomous bodies, and private bodies across 9 States and 1 Union territory in India.

Its principal business operations are broadly divided into four categories: (i) Water Supply Projects (“WSP”); (ii) Railway Projects; (iii) Road Projects and (iv) Irrigation Network Projects.

VPRP has been accredited with various registrations as a contractor with various departments and agencies viz. Jodhpur Development Authority, Jodhpur (Class AA), Rajasthan, Public Health Engineering Department, Rajasthan, (Class AA), Water Resources Department, Rajasthan (Class AA), roads and Building Department, Gujarat (Class AA), South Western Command, Military Engineering Services (MES), Jaipur (Class ‘S’), Rajasthan, Public Works Department, Chhattisgarh (Class A), Public Works Department, Rajasthan (Class AA), Public Works Department, Madhya Pradesh, Bhopal (Civil works).

In 2021 VPRP was awarded a WSP by the Public Health Engineering Department (“PHED”), Manipur worth ₹4332.90 million as against a WSP awarded to it (as a partnership firm) by PHED, Rajasthan in 2002 of ₹19.80 million.

In 2021 VPRP was awarded a WSP by the Public Health Engineering Department (“PHED”), Manipur worth ₹4332.90 million as against a WSP awarded to it (as a partnership firm) by PHED, Rajasthan in 2002 of ₹19.80 million.

For year/ period ended ( in Cr.)

• The Company is a focused player in Water Supply Projects (WSPs) and has executed more than seventy five (75)* WSPs till the date of this RHP. Also, it has thirty-eight (38) WSPs under execution as on the date of this RHP;
• Its revenue from operations has grown at a CAGR of 55.10% from FY 2020-21 to FY 2022-23, with the help of its robust order book across different business segments and geographical regions. As on July 15, 2023, it has an Order Book of ₹ 37,995.28 million;
• Over the period, it has established a client base of various departments of the Central and State Governments. It has on-going projects in 9 States and 1 Union territory;
• It has developed a track record of successful completion of its projects having executed more than eighty five (85)* projects till the date of this RHP. As on July 15, 2023, it has fifty-one (51) on-going projects forming part of its Order Book;
• It undertakes its construction business in an integrated manner as it has the key competencies and in-house resources to deliver a project from conceptualization till completion; and
• Its Promoters has over thirty-six (36) years of experience in the construction industry who are supported by a strong management team with experience in the EPC sector and a proven track record of performance.

• Funding capital expenditure requirements for the purchase of equipment/machinery.
• Funding the working capital requirements of the company & General corporate purposes.

At the upper band of offer price, the IPO is valued at 9.51x. Hence, investors may subscribe it with medium to long-term perspective.