The contract includes annual dredging of 1.5 million cubic meter approximately at Naval Channel, Ernakulam, Kochi at an estimated cost of Rs 64 crore for the year 2022-23.

The company said that the annual maintenance SNC Kochi is feather on the cap of DCI which is aiming at a record highest ever turnover of Rs 1,000 crore for this financial year 2022-23.

DCI carries out dredging activities including capital dredging, maintenance dredging as well as beach nourishment, land reclamation for Indian ports and Navy. The consortium of four port trusts – Jawaharlal Nehru Port Trust, Deendayal, Port Trust, Paradip Port Trust and Visakhapatnam Port Trust currently holds a 73.47% shareholding in the company, with remaining being held by the public.

The company's net profit rose 10.5% to Rs 13.84 crore on 54.7% jump in net sales to Rs 371.32 crore in Q3 FY23 over Q3 FY22.