IRB Infra bags Rs 2,132 crore order from NHAI under BOT mode

IRB Infrastructure has bagged an order worth Rs 2,132 crore from the National Highways Authority of India (NHAI) for the upgradation of the highway in Gujarat. The company informed that it has received a Letter of Award from the NHAI to upgrade NH-27 to a six-lane from Samakhiyali to Santalpur section in Gujarat.

The project length is 90.90 km and would cost around Rs 2,132 crore, the company informed in an exchange filing, adding that the upgradation of the highway will be done on a build-operate-transfer (BOT) mode wherein the company will build, operate and maintain the road for a specified number of years.

“…the company received Letter of Award from NHAI for the project of Upgradation to Six Lane with paved Shoulder of NH-27 from Samakhiyali to Santalpur section from km. 339+200 to Km. 430+100 in the State of Gujarat on BOT (Toll) Mode," the company said in a regulatory filing.

The company has received the contract for a concession period of 20 years from the appointed date including two years of construction.

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With the latest order, the company’s order book stands revised to Rs 20,892 crore. This includes a construction order book of Rs 9,714 crore.

Shares of the Mumbai headquartered company traded in the green on Tuesday, quoting Rs 29.50 price on NSE around 1:15 PM. The scrip had hit a 52-week high of Rs 35 on February 22 on account split. The company split its equity shares bearing a face value of Rs 10 each in the ratio of 10:1. At current 

IRB Infra in the October-December quarter reported a 94 per cent jump in net profit to Rs 141.35 crore from Rs 72.68 crore in the corresponding quarter last fiscal.

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