Airfloa Rail Technology secured a ₹34.85 crore order from Integral Coach Factory (ICF), Chennai, to design the interior of one Vande Bharat Sleeper trainset and develop a mock-up. The company announced the order in a regulatory filing on Monday, with the work to be completed within 12 months from the letter of acceptance date, according to livemint.com.
The order was awarded by a domestic entity and is not a related-party transaction, as neither the promoter nor promoter group has any interest in the awarding entity. Airfloa disclosed the contract promptly without any reporting delays. This follows the company’s recent memorandum of understanding with KTK Group Co. Ltd. to collaborate on platform screen door projects in India, aiming to enhance its railway equipment manufacturing capabilities through technology sharing and domestic production, livemint.com reported.
This order win highlights Airfloa’s growing presence in the railway manufacturing sector, particularly in high-profile projects like the Vande Bharat trainsets. The collaboration with KTK Group aligns with broader industry trends focusing on domestic production and technology partnerships to boost India’s rail infrastructure. The ₹34.85 crore contract adds to the company’s order book amid a 102% share price rise over seven months, reflecting investor confidence in its growth prospects, according to livemint.com.
Airfloa’s next key milestone will be the completion of the interior design and mock-up development within the 12-month timeline set by ICF. The company’s shares are expected to be in focus in the stock market on October 13, following the announcement of this significant order, as noted by livemint.com.