The agreement outlines governance, management, and control terms for the SPV, with VA Tech Wabag and Peak Sustainability expected to hold an economic interest of up to 50% each. Both parties will also have equal representation through nominee directors on the SPV board.

The agreement includes a three-year lock-in period, restrictions on share transfer without mutual consent, and right of first refusal. The company clarified that no conflict of interest arises and that the arrangement is in the ordinary course of business.

VA Tech Wabag is a global water technology company that provides engineering, supply and construction solutions for municipal and industrial water and wastewater treatment projects.

The company's consolidated net profit jumped 30.63% to Rs 91.70 crore on a 18.53% rise in revenue to Rs 961.30 crore in Q3 FY26 as compared with Q3 FY25.