Infrastructure major Punj Lloyd has bagged a Rs 1,300 crore contract from the Delhi Police for building a residential complex at Dheerpur, in the national capital. The project, with an estimated cost of approximately Rs 1,300 crore, primarily entails development, operation and maintenance of the residential zone of over 5,000 units, along with utility facilities such as sewerage and water treatment.
The award bagged by the group's infrastructure arm, Punj Lloyd Infrastructure Ltd (PLIL), also involves development and commercial operation of non-residential infrastructure such as schools, healthcare and convenience shopping facilities as per the norms laid down in the Delhi Master Plan, 2021. PLIL will be signing a concession agreement with the Delhi Police, which is under the aegis of the Ministry of Home Affairs, for 25 years and will be entitled to semi-annual annuities of Rs 62.75 crore, along with construction milestone-linked lumpsum payments of Rs 316 crore.
