IRCON International announced that it "signed a Memorandum of Understanding (MoU) with Patel Engineering on 16th October, 2024 for collaboration and co-operation with each other to explore, identify, pursue and jointly execute mutually beneficial business opportunities in various infrastructure projects in India and Overseas."
IRCON International is a public sector construction company, with emphasis on infrastructure projects, with specialization in execution of Railway projects on turnkey basis and otherwise. After commencing business as a railway construction company, it diversified progressively to roads, buildings, electrical substation and distribution, airport construction, commercial complexes, as well as metro rail works.
On a consolidated basis, net profit of IRCON International rose 19.57% to Rs 224.02 crore on 17.25% decline in net sales to Rs 2287.13 crore in Q1 June 2024 over Q1 June 2023.