Sharpooji Pallonji wins ₹392-cr IIM-V campus contract

Sharpooji Pallonji & Company has emerged as the successful bidder in the tendering process for the construction of a 240-acre Indian Institute of Management-Visakhapatnam (IIM-V) campus at Gambheeram in Vizag suburbs for which the company quoted a price of ₹392 crore. Prior to this, the company has already constructed two IIMs— IIM-Tiruchirappalli and IIMKashipur, as well as other premier academic institutions such as IIT-Patna (phase 1), IIT Madras-Research Park, NIT-Rourkela and IISER-Thiruvananthapuram. According to the IIM-V director Prof M Chandrasekhar, this is another important achievement for the institute, which is poised for its next stage of development. The institute completed all design, engineering and planning work before floating tenders. As per tender conditions, the bidder will complete works by June 2022 but students will be able to move into the permanent campus by December 2021 as classrooms, hostels and dining facilities are expected to be ready by then.