Realty Stock Steps Into Oil & Gas With Securing Rs 280 Cr Contract From Oil India; Do You Own?

One of India's fastest-growing engineering and infrastructure companies, Hazoor Multi Projects Ltd. (HMPL), announced that Oil India Limited, a Maharatna Public Sector Undertaking (PSU), has given its recently acquired subsidiary, Quippo Oil & Gas Infrastructure Ltd., a contract worth Rs. 280.1 Crore.

The share price of Hazoor Multi Projects Ltd. (BSE: 532467) was Rs 44.09 on August 11, 2025, which was 2.30% higher than the closing price of the previous session. Throughout the day, the stock fluctuated between an intraday low of Rs 42.51 and a high of Rs 46.00, having opened at Rs 43.61. With a market valuation of over Rs 988 crore, the business is involved in both the real estate and infrastructure industries.

The agreement, which entails the charter hire of a single drilling rig, strengthens Quippo's reputation in the upstream oil and gas services industry and represents HMPL's daring foray into the upstream energy services market in India, setting the company up for long-term success in the development of the nation's energy infrastructure.

"This Oil India Order is more than a business win-it signals HMPL's strategic shift from a pure-play EPC operator to an integrated platform capable of executing in capital-intensive, high-barrier industries. The acquisition of Quippo was a deliberate, fundamentals-driven step aligned with national energy priorities, aimed at unlocking value in sectors characterized by recurring revenues, limited competition, and policy-driven tailwinds," said Hazoor Multi Projects in a stock exchange filing on Monday.

Meanwhile, Hazoor Multi Projects establishes the groundwork for its strategic expansion into offshore oilfield services on August 6th when it acquires Quippo Oil & Gas Infrastructure Limited in a historic Swiss challenge bid. In order to achieve development, diversification, and long-term value creation, the company intends to strategically enter India's upstream oil and gas industry, with an emphasis on offshore services. Together with the assets and liabilities, the acquisition's total cost, which was determined via a competitive Swiss Challenge bidding procedure, includes cash consideration of Rs. 57.42 lakhs. The entire equity shareholding (100%) of Quippo has been acquired by M/s. Vyom Hydrocarbon Private Limited, a subsidiary of Hazoor Multi Projects Limited.

In addition to considering and approving the financial results for the quarter ending June 30, 2025, the Board of Directors of Hazoor Multi Projects Limited is scheduled to meet on Wednesday, August 13, 2025, to discuss and approve the appointment of Mr. Mukund Shriniwasrao Bilolikar (DIN: 08617648) as an additional Independent Director.

Based in Mumbai, Hazoor Multi Projects Ltd. (HMPL) is a diversified infrastructure and engineering firm that is listed on the BSE. Its primary business areas include shipyard services, civil EPC projects, roads, and the oil and gas sector.