Indraprastha Gas Ltd Clears Pre-Qualification Stage for Saudi Gas Distribution Tender

SYNOPSIS: IGL cleared the pre-qualification stage in Saudi Arabia and advanced to the competition phase for natural gas distribution licenses, following its strategic partnership with MASAH Construction Company.

During Friday’s trading session, shares of a company involved in the business of city gas distribution in the National Capital Territory of Delhi are in focus on the stock exchanges, after successfully clearing the pre-qualification stage for Saudi Arabia gas distribution tender.

At 02:51 p.m., shares of Indraprastha Gas Limited were trading in the green at Rs. 185.85 on BSE, up by around 0.11 percent, compared to its previous closing price of Rs. 185.65, with a market cap of Rs. 26,019 crores. The stock has delivered negative returns of over 11 percent in one year, but has gained by around 1 percent in the last one month.

As per its latest regulatory disclosures, Indraprastha Gas Limited has received confirmation from the relevant authority in the Kingdom of Saudi Arabia (KSA) that it has successfully cleared the pre-qualification stage and advanced to the competition phase of the tender process.

This development follows the company’s earlier disclosure in November 2025, when Indraprastha Gas announced the execution of an alliance-cum-partnership agreement with MASAH Construction Company. The partnership was formed to participate in the pre-qualification process for securing licenses to develop natural gas distribution networks across various industrial cities in Saudi Arabia.

Financials

Indraprastha Gas reported a marginal growth in revenue from operations, experiencing a year-on-year increase of around 8 percent, from Rs. 3,698 crores in Q2 FY25 to Rs. 4,023 crores in Q2 FY26. In contrast, its net profit declined during the same period from Rs. 454 crores to Rs. 385 crores, representing a decline of more than 15 percent YoY.

Indraprastha Gas Limited was founded in 1998 as a joint venture between GAIL (India) Limited and Bharat Petroleum Corporation Limited (BPCL) to undertake City Gas Distribution (CGD) projects. The company is engaged in the business of supplying Compressed Natural Gas (CNG) for transport, as well as Piped Natural Gas (PNG) for industrial, domestic, and commercial use. The critical role played by the company has positioned it as one of India’s leading city gas distribution companies.

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