Quippo Oil & Gas Infrastructure, a subsidiary of HMPL, secures a Rs. 280.1 crore order from Oil India Limited.
Hazoor Multi Projects Ltd (HMPL) Expands into Oil and Gas Sector with Quippo Acquisition
Hazoor Multi Projects Ltd (HMPL), a BSE-listed infrastructure and engineering company based in Mumbai, has made a strategic shift into the oil and gas sector following its acquisition of Quippo Oil & Gas Infrastructure Ltd. in August 2025. This move positions HMPL as a key player in India's upstream oil and gas sector.
The acquisition of Quippo, a prominent player in India’s upstream oilfield services, marks a significant step for HMPL. With operations in highways, civil EPC works, shipyard services, and now the oil and gas sector, HMPL is transforming into a diversified integrated platform focused on capital-intensive, high-barrier industries.
Shortly after the acquisition, Quippo secured a significant contract valued at Rs. 280.1 crore from Oil India Limited, a Maharatna PSU. This order, involving the charter hire of one drilling rig, reinforces Quippo's credentials in upstream oilfield services and signals HMPL's bold entry into India’s upstream energy infrastructure.
The future prospects for Quippo Oil & Gas Infrastructure are promising. Alignment with national energy priorities aimed at reducing India’s energy import dependence by 10% supports sector expansion. The integration of Quippo’s advanced oilfield service capabilities with HMPL’s execution expertise enables participation in offshore energy exploration and production, offering potential for recurring revenues.
Quippo's strategic position in a sector characterized by limited competition, strong demand fundamentals, and policy-driven growth tailwinds makes it a crucial asset for HMPL's diversified energy platform. The company, poised for sustainable growth and long-cycle participation in India’s upstream oil and gas sector, particularly in offshore services.
Quippo Oil & Gas Infrastructure Ltd. operates a fleet of 14 advanced drilling rigs, ranging from 650 HP to 3000 HP. The company has a proven track record, including the successful execution of over 125 wells across India. One of the few Indian players capable of offering end-to-end upstream solutions, Quippo has delivered the deepest onshore well in Indian history-in Assam-completed ahead of schedule and under budget.
HMPL's focus on the oil and gas sector is a part of a broader ambition to be a strategic partner in India's energy and industrial growth story. Known for execution excellence and strategic clarity across capital-intensive, nationally significant projects, HMPL's capabilities have been expanded to pursue large-scale, integrated energy service contracts within the oil and gas industry.
HMPL's goal is to create sustainable, long-term stakeholder value through disciplined execution, intelligent diversification, and consistent value creation across all its verticals. The company is focusing on scalable growth, recurring revenues, and multi-vertical integration to build a future-ready platform at the intersection of infrastructure, energy, and industrial technology.
In summary, the acquisition of Quippo by HMPL reinforces Quippo's credentials in the upstream oil and gas services domain and positions HMPL at the center of a sector offering stable, recurring revenue, margin durability, and long-cycle growth potential. The Indian upstream Oil and Gas sector is poised for significant expansion, supported by the government's commitment to reduce energy import dependence. HMPL's evolution aims to transition from a contractor of road infrastructure to a strategic partner in India's energy and industrial growth story.
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