Hazoor Multi Projects Ltd. (HMPL) has made a significant stride in the Indian energy sector, announcing a substantial contract win for its newly acquired subsidiary, Quippo Oil & Gas Infrastructure Ltd. The company confirmed that Quippo has secured a notable ₹280.1 crore (Rs 280.1 cr) contract from Maharatna PSU Oil India Ltd. This pivotal deal involves the charter hire of a drilling rig for upstream oil and gas services, signalling a major strategic pivot for Hazoor Multi Projects as it ventures into the capital-intensive upstream energy domain.

HMPL’s Strategic Acquisition of Quippo

This landmark contract comes on the heels of HMPL’s strategic acquisition of Quippo Oil & Gas Infrastructure Ltd. On August 7, 2025, HMPL completed the acquisition of 100% equity shareholding of Quippo through its subsidiary, M/s. Vyom Hydrocarbon Private Limited. The acquisition was finalised for a cash consideration of just Rs. 57.42 lakhs, a relatively modest sum considering Quippo’s established presence and capabilities. Quippo, incorporated on July 1, 2005, is a well-known entity in the oil and gas sector, providing essential equipment services, infrastructure solutions, including the rental of rigs and vessels, and consulting services.

The acquisition of Quippo is crucial for HMPL, as it facilitates a transformative shift from primarily being an EPC (Engineering, Procurement, and Construction) operator to an integrated energy sector player. This move positions HMPL to pursue larger, more complex offshore and integrated energy service contracts, aligning with India’s broader national energy priorities and policy frameworks.

Quippo’s Financial Overview

Quippo Oil & Gas Infrastructure Ltd. has demonstrated consistent performance in its turnover figures over the last few financial years. The company’s turnover has remained robust, hovering around the ₹300 crore mark annually. Here’s a quick look at their recent turnover:

These figures, derived from Quippo’s financial statements, highlight a stable operational base that HMPL can leverage for its expansion plans in the energy sector.

Market Reaction and Long-Term Performance

The announcement of the Oil India contract was met with a positive response from the market. Hazoor Multi Projects shares saw a rise of over 2.44% during Monday’s afternoon trading session on the BSE (Bombay Stock Exchange). This short-term gain is reflective of investor optimism regarding the company’s strategic direction. Looking at the broader picture, HMPL has been a remarkable performer, delivering an astonishing nearly 36,700% return to its shareholders over the last five years. Even in the more recent past, the stock has shown resilience, with an 8.67% gain in the last one year, as per publicly available stock exchange data. Such multi-bagger returns are a testament to the company’s growth trajectory and strategic decisions.

India’s Upstream Energy Sector Outlook

This strategic move by Hazoor Multi Projects Secures Oil India Contract aligns perfectly with India’s ambitious energy agenda. The government is committed to reducing the nation’s energy import dependence by 10% and aims to attract over $100 billion in investments in the oil and gas sector by 2030. Policy enablers like the Hydrocarbon Exploration and Licensing Policy (HELP) and the Open Acreage Licensing Policy (OALP) are designed to foster exploration and production activities. This favourable policy environment, coupled with the nation’s growing energy needs, presents significant opportunities for companies like HMPL that are expanding their footprint in the upstream segment. Industry analysts believe that the current policy push makes it an opportune time for private players to increase their participation in the energy value chain.

Recent Developments for Hazoor Multi Projects

Here are some key recent updates concerning Hazoor Multi Projects and Quippo:

• August 11, 2025: HMPL’s subsidiary Quippo Oil & Gas Infrastructure secured a ₹280.1 crore project from Maharatna PSU Oil India Ltd for rig charter hire, marking HMPL’s strategic entry into upstream energy services sector.
• August 7, 2025: HMPL acquired 100% equity of Quippo at Rs. 57.42 lakhs, enabling HMPL to pursue large-scale offshore and integrated energy service contracts.
• July 4, 2025: Hazoor Multi Projects was awarded a $106.78 million EPC contract for a 200 MW solar power project by Apollo Green Energy, showing diversification in the renewable energy sector.

In conclusion, the award of the ₹280.1 crore contract from Oil India Ltd. is a watershed moment for Hazoor Multi Projects. This significant development, spearheaded by the Quippo acquisition, clearly signals HMPL’s transformation into a more diversified and integrated energy player. With a foothold in the capital-intensive upstream oil and gas services and continued diversification into renewable energy, HMPL appears well-positioned to capitalise on India’s evolving energy landscape and contribute to its energy security goals. The company’s ability to secure the Hazoor Multi Projects Secures Oil India Contract further strengthens its credibility and future prospects in the dynamic energy domain.

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