### **Overview** **Om Infra Ltd (OIL)**, formerly known as *Om Metals Infraprojects Limited*, is a leading Indian infrastructure development and EPC (Engineering, Procurement, and Construction) company with over five decades of industry presence. Incorporated in 1971, it is the flagship entity of the **Om Kothari Group**, promoted by **Mr. C.P. Kothari**, a veteran with nearly 50 years of experience in hydel and irrigation engineering projects. The company is publicly listed on the BSE (IPO in 1995) and is headquartered in Rajasthan. OIL specializes primarily in **turnkey hydro-mechanical and civil infrastructure projects**, with a strategic focus on **dams, irrigation systems, hydropower, pumped storage, water supply, and water treatment**. The company has diversified into **real estate development and logistics**, while actively exiting non-core businesses such as packaging. --- ### **Core Business Segments & Operations** #### 1. **Hydro-Mechanical & EPC Engineering** OIL is a **national leader and near-monopoly player** in the niche segment of hydro-mechanical (HM) equipment for dams and hydropower projects. It is one of the few technically qualified firms in India capable of bidding on **large-scale dam projects**, owing to its in-house R&D, technical expertise, and fabrication capabilities. - **Specialization**: End-to-end turnkey solutions for: - Radial, vertical, and stoplog gates - Steel liners, penstocks, trash racks, hoists, cranes - Fabrication, installation, testing, commissioning, and O&M - **Key Projects Executed**: - **Kurichu H.E. Project, Bhutan** (First international project, 2001) - **Almatti Dam** (Upper Krishna Project, Karnataka) - **Kalisindh Dam** (Rajasthan, 2015, executed via subsidiary) - **Rangandi (405 MW)**, **Gosikhurd Dam**, **Koldam**, and **Prakasam Barrage** projects - **Flagship Ongoing Projects**: - **Kundah Pumped Storage (1,000 MW)** – Largest in India - **Dibang Power Project (2,880 MW, Arunachal Pradesh)** – HM contract worth ₹199 crore - **KWAR Hydro Power Project (540 MW, J&K)** – ₹410 crore HM contract - **Tapovan Vishnugad Hydro Project (48 MW, Uttarakhand)** – ₹48 crore order OIL maintains a **state-of-the-art fabrication unit in Kota, Rajasthan**, with an annual capacity of **15,000 metric tonnes**, and follows a **fully in-house manufacturing model** to ensure quality, cost efficiency, and execution control. --- #### 2. **Water & Rural Infrastructure (Jal Jeevan Mission)** OIL has emerged as a key player in the **Jal Jeevan Mission (JJM)**, winning over **₹2,000 crores in projects** across Rajasthan and Uttar Pradesh. These are EPC contracts covering: - Pipeline laying and procurement - Construction of overhead tanks, pump houses, and reservoirs - End-to-end rural water supply systems from source to tap - **Notable Awards (2024–2025)**: - **₹448 crore** from UP Jal Nigam (Rural) - **₹129 crore** from UP Jal Nigam (Urban) - **₹621 crore** Shahpurkandi Project (Punjab) - **Revenue Recognition**: Milestone-based (IND AS 115) - **Typical EBITDA Margins**: 12–15% (lower than core hydro projects) The government's **₹67,000 crore allocation** for JJM (extended to 2028) continues to unlock long-term growth potential. --- #### 4. **Civil Construction & Dam EPC** OIL transitioned from HM equipment supply (5–10% of project cost) to **full EPC execution** of dams and reservoirs, covering **civil, hydro-mechanical, and electromechanical components** for projects up to 300 MW. - **Only qualified firm** to execute complete EPC for hydro projects up to 300 MW in some cases - **Active EPC Projects**: - **Isarda Dam (₹550 crore)** – in progress, JV with Worship InfraProjects - **Amravati Irrigation Project (₹119 crore)** - ₹552 crore Shahpurkhandi Project (Punjab) - **JV Models**: Used for risk sharing and capital efficiency (e.g., HCC OMIL JV in UP, BRCCPL-OMIL-DARA JV in Rajasthan) --- ### **Joint Ventures & Strategic Partnerships** OIL actively uses **JVs and SPVs** to expand capacity, share risk, and pursue large-scale projects. | **JV/SPV** | **Focus Area** | **Stake** | **Key Detail** | |-----------|----------------|----------|----------------| | SPML-OM Metals JV | Smart Infrastructure | 50% | Completed **Knowledge City, Ujjain**; active in Rwanda | | HCC OMIL JV | Water Projects (UP) | 51% | Executing Jal Jeevan Mission works | | BRCCPL-OMIL-DARA JV | Water Projects (Rajasthan) | 59% | Major JJM player | | OMIL-VKMCPL JV (Pench-II) | Infrastructure | 30% | Profit-sharing model | | Gujarat/WB Logistic Pvt. Ltd. | Logistics | 50% | Joint ventures with FCI | | Gurha Thermal Power Co. Ltd. | Thermal Power | 50% | Lignite-based; claim approved by APTEL | | OM Metals Consortium | Real Estate (Jaipur) | 100% subsidiary | High-end residential: **Pallacia** | | Om Ray Venture | Infrastructure | 99.5% | Majority-owned subsidiary | --- ### **Real Estate & Non-Core Monetization Strategy** OIL is **actively monetizing non-core real estate assets** to generate cash flow and de-leverage. #### 1. **Pallacia, Jaipur** - **Total area**: 646,150 sq. ft. - **Development cost**: ~₹4 billion (₹1.6B land, ₹4B dev.) - **Avg. realization**: ₹12,000/sq. ft. - **Expected revenue**: ₹6.0 billion - **Status**: Structure complete, RERA completion certificate received, **>60% units sold**, habitation ongoing - **Unrealized value (Aug 2025)**: ~₹308 crore #### 2. **Om Green Meadows, Kota** - 353,814 sq. ft. BUA, residential township - **Revenue recognized**: ₹62 crore - **Remaining value**: ~₹30 crore - **Status**: Partial handover, expected full monetization in 2 years #### 3. **Mumbai Slum Rehabilitation (Bandra, MHADA)** - Original stake: 35% → **now reduced to 17.5%** (after JV with **Valor Estate**, formerly DB Realty) - **Land parcel**: 19,000 sq. mt. - **FSI entitlement**: Increased from ~200,000 sq. ft. to **over 2 million sq. ft.** (post-CRZ 2017) - **Arbitration award won**: Against MHADA for FSI enhancement (subject to premium payment) - **Potential realizable value**: Estimated **₹600–750 crore** depending on market rates and profit share - **Status**: Slum dwellers to be relocated; reputed developer expected > **Targeted Monetization (2025–2026)**: **₹600+ crore** from real estate and arbitration recoveries (e.g., Bhilwara-Jaipur toll road: ₹587 crore award, pending). --- ### **Geographic & International Presence** OIL has executed over **70 projects** across India (in >18 states) and internationally: - **Bhutan**: Kurichu H.E. Project - **Nepal**: Arun-3 project - **Rwanda**: Completed via **Om Metal SPML JV**; in O&M phase - **Africa (Ghana, Mpanga Sect., Uganda)**: Watershed and irrigation development Plans to expand into **Africa and neighboring countries** under government-backed bilateral initiatives. --- ### **Strategic Initiatives (2025)** - **Focus on high-margin segments**: Dams, pumped storage, river linking, smart cities - **Technology adoption**: BIM, drone surveys, automation in manufacturing - **Operational efficiency**: Cost optimization, faster project execution - **Geographic diversification**: Enter new markets in domestic and international regions - **Exit non-core businesses**: Packaging (impacted by plastic bans), hotel/cineplex operations - **Monetize assets**: Drive ₹600+ crore in non-core cash inflows from real estate and arbitration --- ### **Governance & Promoter Backing** - **Promoter**: **C.P. Kothari** (Group Chairman), supported by two brothers managing daily operations - **Leadership depth**: 500+ white-collar employees, including 20 technocrats and 20 qualified professionals - **Subsidiaries**: Worship Infraprojects (EPC), OM Metals Consortium (Real Estate), High Terrace Realty, etc.