Mr. Gurinder Kamboj, HMPL’s nominee Director on Quippo’s board
Through subsidiary Squareport Shipyard, HMPL expands into upstream oilfield services, marking a strategic diversification into capital-intensive energy sectors
Mumbai, August 5, 2025: Hazoor Multi Projects Ltd. (HMPL), one of India’s fastest-growing infrastructure and engineering enterprises, has announced the successful acquisition of Quippo Oil & Gas Infrastructure Ltd. through a competitive Swiss Challenge bidding process. The acquisition, executed via its wholly owned subsidiary Squareport Shipyard, marks HMPL’s formal entry into India’s upstream oil and gas sector, with a particular focus on offshore oilfield services.
This strategic move not only diversifies HMPL’s business portfolio but also elevates its position from a high-performing EPC player to a multi-vertical, asset-integrated platform with capabilities across infrastructure, marine, and now, energy services.
> “This acquisition is more than growth—it’s about positioning HMPL where the future is headed,” said Mr. Gurinder Kamboj, HMPL’s nominee Director on Quippo’s board. “By combining our infrastructure DNA with Quippo’s deep oilfield expertise, we’re building a capital-efficient, globally relevant platform ready to scale across geographies and service lines.”
A New Strategic Frontier: Offshore Energy Services
With the acquisition of Quippo, HMPL gains access to an industry segment defined by high barriers to entry, long-cycle revenue models, and policy-led tailwinds in exploration and energy security. The newly acquired capabilities position HMPL to pursue large-scale contracts in offshore exploration and production (E&P), both in India and in high-growth international markets.
Key Strategic Assets Acquired:
Fleet of 14 advanced drilling rigs (650 HP to 3000 HP), equipped for complex and deep drilling operations
A team of 400+ oilfield professionals with extensive domestic and international experience
Proven track record, including India’s deepest well project in Assam, completed ahead of schedule
Diversified service portfolio across directional drilling, cementing, seismic studies, and field development
These assets enhance HMPL’s capability to deliver integrated energy services while also synergising with its existing infrastructure and marine operations.
Platform Synergies & Growth Outlook
The integration of Quippo aligns with HMPL’s strategy to build a vertically integrated portfolio across:
Upstream oilfield services
Renewable energy
Marine and offshore logistics
Civil infrastructure, ports, and EPC
The move is expected to unlock:
Recurring high-margin revenues from rig leasing and service contracts
Cross-vertical operational synergies with shipyard, EPC, and renewable business units
Global scalability through asset-light execution models and high-capability teams
Optional expansion into adjacent verticals such as marine logistics and deepwater E&P
Timing with National Energy Priorities
India’s deepwater exploration push under the Open Acreage Licensing Policy (OALP) and national energy security goals provide an ideal macro environment for this expansion. HMPL’s entry into offshore oilfield services is timely and aligned with government priorities, adding depth and value to the country’s upstream capabilities.
Engineering Trust with Strategic Growth
This acquisition reflects HMPL’s continuing evolution into a future-ready enterprise built on engineering excellence, strategic foresight, and capital efficiency. With deep domain expertise, integrated operations, and a strong balance sheet, HMPL is positioned to lead across infrastructure and energy for years to come.
About Hazoor Multi Projects Ltd. (HMPL):
Headquartered in Mumbai, HMPL is one of India’s most trusted infrastructure players, with a robust portfolio spanning highways, ports, tunnels, EPC, shipbuilding, and now, upstream energy services. With a reputation for timely delivery and engineering excellence, HMPL is committed to building critical infrastructure that powers India’s economic and industrial growth.
