Kishangarh Gulabpura Tollway executes concession agreement with NHAI

Kishangarh Gulabpura Tollway Private Limited - Wholly-owned Subsidiary of IRB Infrastructure Developers Ltd, has now executed Concession Agreement with NHAI for the project of Six laning of Kishangarh to Gulabpura section of NH-79A and NH-79 in the State of Rajasthan (Length 90.000km) on DBFOT (Toll) under NLIDP Phase-V Package-1 ("the Project)".

Key highlights of the Project are as under:

- The Project is on DBFOT Pattern
- The estimated project cost of the company is approximately Rs. 1,530 crores
- The concession period of the project is 20 years including construction period of 910 days.
- The Company will get tolling rights on Project from the Appointed Date
- The Company has offered premium of Rs. 186.30 Crores to NHAI. The premium payment will commence after three years from the Appointed Date in terms of the Concession Agreement.

Shares of IRB INFRASTRUCTURE DEVELOPERS LTD. was last trading in BSE at Rs.231.5 as compared to the previous close of Rs. 231.95. The total number of shares traded during the day was 169679 in over 3034 trades.

The stock hit an intraday high of Rs. 234.25 and intraday low of 229.9. The net turnover during the day was Rs. 39465704.

Source : Equity Bulls

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