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Incorporated in 2005, RKEC Projects Ltd is in the business of Civil and Defence Construction
RKEC Projects reported a default of 63.42 Cr (55.90 Cr principal, 7.52 Cr interest) on loans from multiple banks and financial institutions. Total outstanding borrowings are 229.32 Cr. The company expects to secure additional funds to discharge these liabilities.
RKEC Projects' board approved Q1 financial results. The company reported a net loss of ₹17.30 Cr on revenue of ₹17.32 Cr. Operations faced a setback with MMB terminating a ₹186.68 Cr project, leading to ₹29.87 Cr bank guarantee encashment. RKEC claims ₹36.18 Cr in recovery.