Oval Projects Engineering

What Oval Projects Engineering does

Oval Projects Engineering Limited is an India-based EPC (Engineering, Procurement, and Construction) contractor founded in 2013 in Agartala, Tripura, that delivers turnkey infrastructure solutions across the onshore Oil & Gas, City Gas Distribution (CGD), Urban Development, and Power sectors. The company's service portfolio spans upstream, midstream, and downstream activities and includes cross-country pipeline laying (Carbon Steel and MDPE), development of gas gathering/processing stations and early production systems, CNG station development, DPNG network installation, terminal station works, processing plant augmentation, methanol storage tank development, CNG transportation, civil infrastructure (drill sites, schools, Unity Malls), and operation and maintenance of PNG networks. Oval also provides manpower supply and skill development (PMKVY) programs, primarily to ONGC. The company reports having laid 900+ KM of pipelines and completed 109,500 INCH DIA of piping across India.

Oval's business model is project-based, with revenue generated through one-time EPC contracts and multi-year Annual Rate Contracts (ARCs) typically spanning 2–3 years, won via competitive bidding and direct negotiation with public-sector undertakings and government entities. The company's client roster is concentrated in Indian energy PSUs and CGD entities — including ONGC, GAIL, IOCL, TNGCL, IGGL, MNGCL, IGL, IOAGPL, AGCL, and APCL — supplemented by state government departments such as Tripura Smart City Limited and Tripura PWD. Go-to-market is direct enterprise sales with project-specific, non-disclosed pricing. The company is publicly listed on BSE (Scrip Code 544498) following an IPO process that included DRHP approval in September 2024 and RHP approval in June 2025, with a market capitalization of approximately ₹104 crore as of April 2026. Oval maintains two wholly-owned subsidiaries — Oval Biotech Private Limited and Oval Digital Private Limited — representing adjacent diversification beyond core EPC operations.

Name

Oval Projects Engineering

Legal name

Oval Projects Engineering Limited

Website

https://ovalprojects.com

Company type

Public

Founded year

2013

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Oval Projects Engineering Limited is an India-based EPC contractor founded in 2013 that delivers turnkey pipeline, gas gathering station, CNG station, and civil infrastructure projects for Oil & Gas PSUs (ONGC, GAIL, IOCL) and City Gas Distribution entities across India.

Ownership category

akta.pro rank

Product category

Oil & Gas EPC and Infrastructure Services

NAICS

Oil and Gas Pipeline and Related Structures Construction (237120), Heavy and Civil Engineering Construction (237)

SIC

Heavy Construction Other Than Bldg Const - Contractors (1600)

akta.pro primary industry

Construction Management & General Contracting (EPCM, Scheduling, QA/QC, HSE) (EUAMAFAJ)

akta.pro secondary industry

Site Preparation & Civil Works (Clearing, Grading, Earthworks, Roads) (EUAMAFAA)

Keywords

• EPC services
• Oil gas infrastructure
• Pipeline construction
• City gas distribution
• Civil infrastructure works

Headquarters

HQ city

Agartala

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. EPC Contract Revenue: Engineering, Procurement, and Construction contracts for Oil & Gas infrastructure projects including pipeline laying, gas gathering stations, CNG stations, and civil works. Revenue is project-based and recognized upon project completion or milestone achievements.
2. Annual Rate Contracts (ARC): Multi-year rate contracts for ongoing maintenance, construction, and operational services typically spanning 2-3 years with major clients like ONGC.
3. Infrastructure Development Services: Revenue from turnkey infrastructure projects in Oil, Gas, and Power sectors including pipeline construction, civil works, and facility development.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Oval Projects Engineering Limited provides end-to-end EPC (Engineering, Procurement, and Construction) turnkey services and operation & maintenance support for onshore Oil & Gas, City Gas Distribution (CGD), Urban Development, and Energy infrastructure projects in India. Its core offerings include cross-country pipeline laying, CS and MDPE pipeline construction, gas gathering/processing station development, CNG station development, CGD network installation, civil infrastructure works, and ongoing O&M of PNG networks.

Product overview

OVAL Projects Engineering Limited is an infrastructure development company providing end-to-end EPC (Engineering, Procurement, and Construction) solutions and turnkey operations for the Oil & Gas, City Gas Distribution, Urban Development, and Energy sectors in India. The company's service portfolio is organized as a unified offering of specialized infrastructure services rather than distinct software products. Core services include: pipeline construction (cross-country pipelines, CS & MDPE pipeline laying), gas infrastructure development (gas gathering stations, processing stations, CNG stations), civil infrastructure works, operation and maintenance of gas networks, CNG transportation, and manpower supply services. The company operates across the upstream, midstream, and downstream segments of the Oil & Gas industry, serving clients including ONGC, GAIL, IOCL, and various state gas distribution companies. With approximately 900 KM of pipelines laid and a present order book of ₹400 crore, the company has established itself as a specialized infrastructure contractor with expertise in challenging geographical terrains across India.

Differentiator

Problem solved

Functional benefit

Products and services

• EPC for Gas Gathering/Processing Stations and Early Production System Engineering, procurement, and construction services for development of gas gathering stations, processing stations, early production systems, and gas collecting stations (0.44–0.5 MMSCMD capacity) for Oil & Gas exploration clients.
• Cross-Country Pipeline Laying EPC services for laying cross-country transmission pipelines, including construction, installation, and commissioning, for Oil & Gas and gas transmission clients such as GAIL and IOCL.
• CS & MDPE Pipeline Construction Laying and installation of Carbon Steel (CS) and Medium-Density Polyethylene (MDPE) pipelines (20MM to 125MM diameter) for gas transmission, distribution, and domestic connections.
• CNG Station Development Complete EPC projects for development of CNG (Compressed Natural Gas) stations, including storage tanks and loading/unloading gantry systems, for city gas distribution operators such as IOCL and TNGCL.
• City Gas Distribution (DPNG) Network Installation Installation and connection of DPNG (Domestic Piped Natural Gas) networks, laying of MDPE domestic pipelines, and execution of house connections for city gas distribution companies.
• PNG Network Operation & Maintenance Operation and maintenance services for PNG (Piped Natural Gas) networks, gas lines, and gas generator systems of existing client facilities, typically under multi-year rate contracts.
• CNG Transportation Transportation of CNG from mother station to daughter booster station as part of city gas distribution logistics services.
• Methanol Storage Tank Development EPC projects for development of methanol storage tanks, including loading and unloading gantry systems, for Oil & Gas and chemical storage clients.
• Processing Plant Augmentation/Revamping Upgradation and revamping services for existing processing plants to enhance capacity, efficiency, and extend operational life.
• Civil Infrastructure Works Civil works for drill site development, school buildings, Unity Malls, market complexes, community toilets, tourist spots, barrage accommodations, and other urban/rural infrastructure projects.
• Manpower Supply Services Provision of skilled manpower for catering, housekeeping, project management, and CGD works, primarily for ONGC and other enterprise clients.
• Flow Line Laying Rate Contracts Annual Rate Contracts (ARC) for flow line laying works in Oil & Gas fields, typically 2–3 year engagements with majors such as ONGC.

Quantifiable outcome

• Revenue grew 50% to ₹153.14 crore in FY26
• +3 more outcomes

Named customers12 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Three partnerships are on record, tiered minor and core.

• Fresh Private Purpose (Joint Venture)minorStrategic or Co-development Partner · 18 October 2025Joint venture incorporated between Oval Projects Engineering and Fresh Private Purpose for tender participation purposes, as approved by the board of directors on October 18, 2025.
• Oval Biotech (Subsidiary)coreOthersWholly-owned subsidiary company focused on biotech operations. Included in annual return filings and corporate governance structure.
• Oval Digital (Subsidiary)coreOthersWholly-owned subsidiary company focused on digital operations. Included in annual return filings and corporate governance structure.

Scale indicators7 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Kalpataru Projects International: Kalpataru Projects International is an Indian listed EPC company with significant Oil & Gas pipeline and infrastructure exposure. It competes directly with Oval in cross-country pipeline and gas gathering station EPC, but at substantially larger scale.
• Megha Engineering & Infrastructures (MEIL): MEIL is one of India's largest private EPC contractors with a strong Oil & Gas pipeline and gas infrastructure portfolio. It is a direct competitor for major PSU pipeline tenders, though at a far larger scale and broader capability footprint than Oval.
• Sadbhav Engineering: Sadbhav Engineering is an Indian listed infrastructure EPC company with a strong pipeline and irrigation/water infrastructure focus. It is comparable in scale and bid profile to Oval for cross-country pipeline and civil infrastructure tenders.
• Punj Lloyd: Punj Lloyd is an established Indian EPC contractor with a long track record in Oil & Gas pipelines and onshore processing. It is comparable to Oval in pipeline and gas-gathering station EPC, though currently undergoing significant corporate restructuring.
• ITD Cementation India: ITD Cementation is an Indian listed EPC focused on marine, urban infrastructure, and Oil & Gas pipeline work. It overlaps with Oval on cross-country pipeline construction and civil infrastructure scopes for PSU clients.
• Jaihind Projects: Jaihind Projects is an Indian mid-sized EPC contractor focused on cross-country oil & gas pipelines, gas gathering stations, and urban gas distribution. It is highly comparable in scale, customer base (PSUs), and service portfolio to Oval Projects Engineering.

Broad incumbents

• KEC International: KEC International is a large listed EPC player with transmission, cable, and oil & gas pipeline businesses. It overlaps with Oval on pipeline and gas infrastructure projects but is a much larger and more diversified incumbent.
• Tata Projects: Tata Projects is a large diversified Indian EPC firm with oil & gas, urban infrastructure, and power T&D capabilities. It overlaps with Oval in gas infrastructure and civil works, but operates at significantly larger scale and with broader scope.
• Engineers India Limited: EIL is a PSU engineering consultancy and EPC provider for the hydrocarbon sector. It operates as both a designer and EPC contractor in Oil & Gas, competing with Oval on certain turnkey scopes though its primary strength is engineering rather than field construction.

Regional players

• H.G. Infra Engineering: H.G. Infra Engineering is an Indian listed EPC focused on roads, bridges, and civil infrastructure with growing pipeline exposure. While primarily road-focused, it competes for civil scopes within Oval's gas and Oil & Gas project packages.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/oval-projects-engineering-private-limited
• Xx.com/ovalprojectseng

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Oval Projects Engineering