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Mayasheel Ventures Limited (MAYASHEEL)

📊 NSE: MAYASHEEL 🏢 Civil Construction 📢 Latest filing: 01 Oct 2026 📝 Analysis written: 13 Nov 2025

Latest quarterly results (H1 FY26)

Full quarterly financials → Results calendar →

📢 Recent Corporate Announcements

Mayasheel Secures ₹38.23 Cr EPC Infrastructure Order from Greater Noida Authority

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 01 Oct 2026, 10:26 PM

Mayasheel Ventures Limited has secured a Letter of Acceptance (LOA) for an EPC contract worth ₹38.23 crore (excluding GST) from the Greater Noida Industrial Development Authority. The project involves constructing a main RCC drain with cover along 60-meter and 45-meter wide roads in Sector Kappa-2 (Multi Modal Logistics Park), Greater Noida. The contract was awarded via a competitive tender process as the lowest evaluated responsive bid. The mandated execution timeline for this domestic civil construction project is 12 months.

Received Letter of Acceptance for an EPC project valued at ₹38.23 Crore (excluding GST)
Contract awarded by the Greater Noida Industrial Development Authority via tender process
Execution timeline set for 12 months from award
Scope includes construction of RCC drain with cover on 60m and 45m wide roads in Greater Noida
No promoter interest or related-party transaction involved

💡 Monitor upcoming quarterly filings for revenue recognition and execution progress against the 12-month delivery window.

Mayasheel secures Rs 20.83 cr EPC drain contract from NOIDA Authority

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 01 Oct 2026, 02:56 PM

Mayasheel Ventures Limited has received a Letter of Acceptance (LOA) for an EPC infrastructure project from the NOIDA Authority. The order is valued at Rs 20.83 crore (Rs 20,82,80,875.18, excluding GST) and entails the construction of an RCC drain along the Expressway from JP Flyover to Sector-105 underpass in Noida. The company won the contract through a tender process where its price bid was 12.60% below the print rates in the tender BOQ. The project is scheduled for completion within an execution timeline of 9 months.

Received Letter of Acceptance from NOIDA Authority for a contract valued at Rs 20.83 crore (excluding GST)
Bid was accepted at 12.60% below the BOQ print rates in the tender process
Contract is under EPC mode with an execution period of 9 months
Scope covers construction of RCC open drain from JP Flyover to Underpass, Sector-105, Noida

💡 Track the signing of the formal contract bond within 10 days and monitor quarterly execution progress against the 9-month project timeline.

Mayasheel Secures ₹17.94 Cr Subcontract Work Order in Jammu Sector

🟢 POSITIVE ⭐ 7/10

OTHER 📅 24 Sep 2026, 04:13 PM

Mayasheel Ventures Limited has secured a domestic subcontract work order valued at ₹1,793.60 Lakhs (inclusive of GST) from A&T Infracon Private Limited. The contract involves the manufacture, supply, erection, and delivery of Precast RCC Box Culverts for 190 running metres in the Jammu sector. The project is scheduled for completion within 12 months from the date of the work order. The transaction does not involve related-party interests.

Work order size is approximately ₹1,793.60 Lakhs (inclusive of GST)
Execution timeline is 12 months from the date of the work order
Scope comprises 190 running metres of Precast RCC Box Culverts (2-cell, 1.5 m × 1.5 m)
Awarded on a subcontract basis by domestic client A&T Infracon Private Limited

💡 Track the 12-month execution progress and monitor upcoming quarterly filings for revenue realization from this infrastructure subcontract.

Mayasheel Declared L1 Bidder for ₹38.23 Cr Infrastructure Project in Greater Noida

🟢 POSITIVE ⭐ 7/10

OTHER 📅 22 Sep 2026, 05:00 PM

Mayasheel Ventures Limited has been declared the lowest (L1) bidder by the Greater Noida Industrial Development Authority on September 22, 2026. The domestic contract is valued at Rs. 3823.19 Lakhs (approximately ₹38.23 crore). The project involves the construction of a main RCC drain with cover on 60-meter and 45-meter wide roads in Sector Kappa-2 (Multi Modal Logistics Park), Greater Noida. The formal award of the contract remains subject to the receipt of the Letter of Acceptance (LOA) and execution of the final agreement.

Declared L1 bidder for a domestic contract valued at Rs. 3823.19 Lakhs
Tender issued by Greater Noida Industrial Development Authority
Scope covers construction of RCC drain along 60Mtr. and 45Mtr. wide roads in Sector Kappa – 2
Declaration date recorded as September 22, 2026
Final award remains contingent on the issuance of the Letter of Acceptance (LOA) and agreement signing

💡 Track subsequent disclosures regarding the formal issuance of the Letter of Acceptance (LOA), signing of the contract, and execution timelines.

Mayasheel Ventures Shareholders Approve All 5 AGM Resolutions, Including IPO Proceeds Variation

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 18 Aug 2026, 01:59 PM

Mayasheel Ventures Limited has disclosed the voting results and scrutinizer's report for its 2nd Annual General Meeting held on August 14, 2026. All 5 resolutions were passed with the requisite majority, including the adoption of FY26 financial statements and director re-appointment. Notably, shareholders approved a special resolution for variation in the utilisation of IPO proceeds under Section 27 of the Companies Act, 2013. The total number of shareholders on the record date (August 7, 2026) was 296.

All 5 resolutions transacted at the 2nd AGM on 14 August 2026 passed with requisite majority
Shareholders approved special resolution for variation in utilization of IPO proceeds
Adoption of audited financial statements for the fiscal year ended 31 March 2026 approved
Total registered shareholders stood at 296 as of the record date 07 August 2026

💡 Monitor upcoming quarterly disclosures to understand the specific reallocation and capital deployment timeline resulting from the revised IPO proceed utilisation.

Mayasheel Ventures 2nd AGM: Shareholders Approve Variation in IPO Proceeds Utilization

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 14 Aug 2026, 01:49 PM

Mayasheel Ventures Limited conducted its 2nd Annual General Meeting on August 14, 2026, marking its first AGM since listing on the NSE EMERGE platform in June 2025. Shareholders approved the adoption of FY26 financial statements and the re-appointment of Mrs. Meenu Garg as Director. A significant agenda item passed was the approval for variation in the utilization of unutilized IPO proceeds, providing the company flexibility in capital deployment. The Chairman emphasized the company's transition from a partnership firm to a listed entity focused on road and civil construction projects.

Company successfully listed its equity shares on the NSE EMERGE Platform on June 27, 2025
Shareholders approved the variation in the utilization of unutilized IPO proceeds under Section 27 of the Companies Act
Appointment of M/s Rakesh Chhoker & Associates as Secretarial Auditors for a 5-year term from April 1, 2026, to March 31, 2031
The AGM concluded on August 14, 2026, with all ordinary and special businesses transacted as per the July 21, 2026 notice
Remote e-voting was conducted between August 11, 2026, and August 13, 2026

💡 Investors should review the upcoming detailed voting results and the specific explanatory statement regarding the 'variation in IPO proceeds' to understand the new allocation of capital.

Mayasheel Ventures Receives 241-Day Extension for Nagaland EPC Project; No Penalties Levied

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 12 Aug 2026, 02:56 PM

Mayasheel Ventures has secured a 241-day Extension of Time (EOT) from the National Highways & Infrastructure Development Corporation Limited (NHIDCL) for its EPC project in Nagaland. The project involves widening a 34.795 km section of NH-202K to two lanes with hard shoulders. Importantly, the extension was granted without the levy of Liquidated Damages (LD), indicating the delay was likely due to factors beyond the company's control. However, price indices for cost adjustments will remain frozen as of the original scheduled completion date, which may impact margins if input costs rise.

Extension of 241 days granted for the Akegwo–Avangkhu section of NH-202K
New scheduled completion date is set for 21 October 2026
Zero Liquidated Damages (LD) levied by the authority for the delay
Project involves widening 34.795 Km of highway in the state of Nagaland
Price indices for escalation frozen as per the original scheduled completion date

💡 Investors should monitor the company's progress toward the new October 2026 deadline to ensure no further delays occur. The impact of the price index freeze on project profitability should be assessed in upcoming financial results.

₹20.83 Cr Order: Mayasheel Ventures Declared L1 Bidder for NOIDA Drain Project

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 31 Jul 2026, 01:28 PM

Mayasheel Ventures Limited has been declared the lowest (L1) bidder for a domestic civil construction project by the New Okhla Industrial Development Authority (NOIDA). The contract, valued at approximately ₹20.83 crore, involves the construction of an RCC drain along the Expressway from JP Flyover to Sector-105, Noida. This project replaces an existing damaged brick drain. The final award is subject to the issuance of a Letter of Acceptance (LOA) and the execution of a formal agreement.

Declared L1 bidder for a contract valued at approximately ₹20.83 crore
Project involves construction of RCC Drain along the Expressway in Noida
Authority for the contract is the New Okhla Industrial Development Authority (NOIDA)
Bid status was officially declared on July 31, 2026

💡 Investors should watch for the formal issuance of the Letter of Acceptance (LOA) and the subsequent disclosure regarding the project execution timeline.

Rs 4 Cr IPO Proceeds Reallocation: Mayasheel Ventures Shifts Capex Funds to Working Capital

🔵 WATCH ⭐ 6/10

REGULATORY 📅 29 Jul 2026, 03:03 PM

Mayasheel Ventures is seeking shareholder approval to reallocate Rs 400.00 Lakhs (Rs 4 crore) of its IPO proceeds from Capital Expenditure to Working Capital Requirements. The company raised a total of Rs 2,728.35 Lakhs in its June 2025 IPO, but the portion earmarked for capex remains entirely unutilized. Management cites a need for improved liquidity due to longer order execution and receivable cycles. As per SEBI norms, an exit opportunity will be provided to eligible dissenting shareholders.

Rs 400.00 Lakhs originally earmarked for Capital Expenditure remains 100% unutilized as of July 2026.
Total IPO proceeds raised in June 2025 amounted to Rs 2,728.35 Lakhs.
The entire Rs 400.00 Lakhs is proposed to be shifted to Working Capital to support operational expansion.
The 2nd Annual General Meeting (AGM) is scheduled for August 14, 2026, to vote on this Special Resolution.
Promoters will provide an exit opportunity to eligible dissenting shareholders per SEBI ICDR Regulations.

💡 Monitor the voting results of the AGM on August 14, 2026, and check for any subsequent disclosures regarding the exit price for dissenting shareholders.

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