The scope of the aforementioned project also involves providing operation and maintenance services for a period of five years.

The said project has been awarded by a Group company of one of the India's leading renewable energy developer.

The project is expected to be completed in the FY 2023-24, subject to the terms and conditions of the order.

Waaree Renewables Technology (WRTL) is subsidiary company of Waaree Group and spearheading the solar EPC business. Waaree Group has successfully installed 10,000 plus solar projects, with a total operating capacity of more than 600 MW. The company is also a solar developer that finances, constructs, owns and operates solar projects.

The company's consolidated net profit jumped 81.7% to Rs 12.28 crore in Q4 FY23 as compared with Rs 6.76 crore in Q4 FY22. Net sales declined 19.8% year on year to Rs 61.49 crore in Q4 FY23.

The scrip shed 0.91% to currently trade at Rs 1137.50 on the BSE.