IRB Infra emerges as a Preferred Bidder for Rs.2,132 Crs BOT project in the State of Gujarat

IRB Infrastructure Developers Ltd. (IRB), India's leading and largest integrated highways infrastructure developers has emerged as a Preferred Bidder for Rs.2,132 Crores BOT Project in the State of Gujarat.

The project, with Concession Period of 20 years from the Appointed Date, is 6 laning of the 90.90 Kms stretch between Samakhiyali to Santalpur.

Commenting on the development, Mr. Virendra D. Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers Ltd. said, "We are proud to continue our winning streak in BOT space and this would be the sixth project that the company will be executing in the state of Gujarat. The present project will be an important addition to IRB portfolio as this project caters to heavy commercial traffic connecting the Kandla and Mundra port and is brownfield part of the prestigious Amritsar Jamnagar expressway."

Upon award of this Project, the Company's order book will stand revised to approx. Rs. 20,892 Crores, excluding GST, of which, the construction order book will be at Rs 9,714 Crores, providing strong visibility for next ~2.5 years.

Shares of IRB Infrastructure Developers Limited was last trading in BSE at Rs. 283.25 as compared to the previous close of Rs. 289.15. The total number of shares traded during the day was 796823 in over 3494 trades.

The stock hit an intraday high of Rs. 292.35 and intraday low of 274.75. The net turnover during the day was Rs. 226221550.00.

Source : Equity Bulls

Keywords

IRBInfrastructureDevelopers INE821I01014 PreferredBidder BOTproject Gujarat