Kridhan Infra Limited ("KIL" or the "Company") has announced that its associate company Vijay Nirman Company Private Limited ("VNC") has received a LoI (Letter of Intent) worth INR 105 Crores.
The company has been mandated to construct major and minor bridges, etc. for Package 4 of the Mumbai - Nagpur Super Communication Expressway in Maharashtra. The project is expected to be completed over a period of 12 months.
VNC is acclaimed as a leading player in bridge construction in India, with over 30 years of impeccable track-record. The company has seen strong order inflows in FY19 with order book at INR 32+ bn as on 30th September, 2018. Apart from EPC projects within the roads and bridges segment, affordable housing is a major growth driver for VNC and the segment constitutes a significant proportion of VNC's un-executed order book. KIL currently owns approximately 41% stake in VNC and hence, VNC operates as an associate company of KIL.
Shares of Kridhan Infra Limited was last trading in BSE at Rs.46.75 as compared to the previous close of Rs. 46.7. The total number of shares traded during the day was 3936 in over 63 trades.
The stock hit an intraday high of Rs. 47.65 and intraday low of 46.7. The net turnover during the day was Rs. 185825.