EIE Renewables Private Limited, a wholly owned subsidiary of Enviro Infra Engineers, has entered into a Share Purchase Agreement on 28 April 2026 to acquire 100% of Suyog Urja Limited for ₹311 crore in a phased transaction. The acquisition involves immediate purchase of 51% equity stake, with the remaining 49% to be acquired within 27 months, targeting completion by 31st July, 2028. Suyog Urja, incorporated in 2008, operates in the renewable energy sector with a turnover of ₹171.99 crore and networth of ₹30.34 crore as on 31.03.2025, specializing in wind and solar energy projects across multiple states.

Enviro Infra Engineers Subsidiary Acquires Suyog Urja for ₹311 Crore in Phased Deal

Enviro Infra Engineers has announced a strategic acquisition through its wholly owned subsidiary, EIE Renewables Private Limited, which will purchase Suyog Urja Limited for ₹311 crore. The transaction, executed under a Share Purchase Agreement dated 28 April 2026, involves a phased acquisition of 100% of the target company's equity share capital.

Acquisition Structure

The acquisition follows a structured two-phase approach. EIE Renewables will acquire 51% of the equity shares of Suyog Urja Limited immediately, while the remaining 49% equity stake will be acquired in a phased manner within a period of 27 months. The transaction is expected to be completed on or before 31st July, 2028. The acquisition is not a related party transaction, and none of the company's promoter, promoter group, or group companies have any interest in the said transaction.

Parameter Details Acquisition Target Suyog Urja Limited Acquiring Entity EIE Renewables Private Limited (Wholly Owned Subsidiary) Purchase Price ₹311 crore (approximately) Consideration Type Cash Initial Stake 51% equity share immediately Remaining Stake 49% equity within 27 months Completion Timeline On or before 31st July, 2028

Target Company Profile

Suyog Urja Limited is an Indian company incorporated on 11th September, 2008, operating in the energy and renewable power sector. The company is a registered Renewable Energy Developer with the Maharashtra Energy Development Agency (MEDA) and specializes in the execution of wind and solar energy projects across multiple states including Maharashtra, Karnataka, and Madhya Pradesh.

Financial Parameter Amount Authorised Capital ₹20,00,00,000 (2,00,00,000 Equity Shares of ₹10 each) Paid up Capital ₹5,00,000 (50,000 Equity Shares of ₹10 each) Turnover (Audited) as on 31.03.2025 ₹171.99 crore Networth (Audited) as on 31.03.2025 ₹30.34 crore

Strategic Implications

The proposed acquisition is intended to enable EIE Renewables Private Limited, the renewable energy vertical of Enviro Infra Engineers, to strengthen and integrate its existing renewable energy portfolio with entry into the wind energy segment. This strategic expansion is expected to enhance the company's overall project capacity, diversify its energy mix, and broaden its geographic footprint across the western and southern regions of India. The target company was incorporated with the primary objective of developing renewable energy infrastructure, with a focus on the execution of wind energy projects across multiple states in India.

Enviro Infra Engineers Limited has announced substantial order book strengthening with new project wins worth ₹2,240 crore since March 2026, significantly enhancing its revenue visibility and market position across water treatment and renewable energy segments.

Order Book Expansion and Composition

The company's total order book now stands at more than ₹4,600 crore, reflecting strong growth momentum across multiple business segments. The diversified portfolio demonstrates the company's strategic positioning in high-growth infrastructure sectors.

Segment Order Book Value Water and Waste Water Treatment More than ₹2,500 crore Renewable Energy More than ₹1,000 crore Operations & Maintenance More than ₹1,100 crore Total Order Book More than ₹4,600 crore

Strategic Entry into BESS Market

A significant milestone for Enviro Infra Engineers is its entry into the Battery Energy Storage System (BESS) segment through four projects awarded by NTPC worth ₹1,070 crore. These projects represent a total capacity of 930 MWh and are being implemented across multiple states including Uttar Pradesh, Assam, Karnataka, and Telangana.

Project Details Specifications Total Project Value ₹1,070 crore Total Capacity 930 MWh Awarding Authority NTPC Implementation States Uttar Pradesh, Assam, Karnataka, Telangana

Water Treatment Segment Achievements

The company has secured substantial contracts in its core water treatment business, reinforcing its market leadership position. Recent wins include projects under major government initiatives such as AMRUT 2.0 and Swachh Bharat Mission (Urban) 2.0.

Project Value Location Authority AMRUT 2.0 Project ₹411 crore Aurangabad, Bihar Bihar Urban Infrastructure Development Corporation Limited Swachh Bharat Mission Projects ₹972 crore Pune and Nashik, Maharashtra Government Authorities

Revenue Visibility and Growth Outlook

The robust order book provides clear execution visibility over the next 15-24 months, with the company projecting revenue visibility of approximately ₹2,000 crore in FY 2027. This strong pipeline supports sustainable growth trajectory and operational planning.

Chairman Sanjay Jain commented on the developments, highlighting the company's execution capabilities and strategic focus on high-growth infrastructure areas. He emphasized that the entry into the BESS segment marks an important milestone in portfolio diversification while maintaining strength in core water and wastewater treatment operations.

Geographic Expansion and Market Presence

The recent order wins demonstrate Enviro Infra Engineers' expanding geographical footprint across India, with new projects secured in Bihar, Maharashtra, Assam, Karnataka, and Telangana. This diversification reduces regional concentration risk and capitalizes on infrastructure development opportunities across multiple states.

Business Segments and Capabilities

Enviro Infra Engineers operates as a leading EPC company with over 15 years of experience in water and wastewater treatment infrastructure. The company's services encompass:

Design and engineering of water treatment projects

Procurement of raw materials and equipment

Project execution and overall project management

Commissioning and post-commissioning support

Operations and maintenance services spanning 5-15 years

The company's renewable energy segment, established in FY 2025-26, includes the subsidiary EIE Renewables Private Limited, which is developing 79 MW of Solar Power Plants under IPP and C&I models. The recent BESS project awards significantly strengthen the company's position in the renewable energy value chain.

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