IVRCL Infrastructure Group secures Road Project worth Rs 1550 Crores

IVRCL Infrastructures & Projects Limited has bagged road project of the value of Rs 1550 crores for "Design, Engineering, Construction, Development, Finance, Operation and Maintenance of Indore-Jhabua-Gujarat/MP Border section of NH 59 (Km 9.500 to Km 171.10) in the State of Madhya Pradesh under NHDP Phase III on Design, Build, Finance, Operate and Transfer (DBFOT) Basis" awarded by National Highways Authority of India under International Competitive Bidding. The concession period is 25 years, including construction period of 2 1/2 years.

The project corridor is located in the State of Madhya Pradesh and passes through Indore, Dhar and Jhabua and is part of NH 59 which leads to Ahmedabad thus connecting to Gujarat. The project will be the shortest connecting road between Indore and Ahmedabad.

The scope of work includes rehabilitation, up-gradation and widening of the existing carriageway from 2 lane carriageway to 4 lane standards with construction of new pavement construction and / or rehabilitation of major and minro bridges, culverts, road intersections, interchanges, drains etc. and the operation and maintenance thereof. Project length (considering bypasses and realignment) is 155 km.

The order book position of the company is over Rs 22000 crores including L1 and the order book is well diversified region wise and sector wise.

The stock was trading at Rs.385, down by Rs.2.80 or 0.72%. The stock hit an intraday high of Rs.393.20 and low of Rs.380.

The total traded quantity was 194326 compared to 2 week average of 380921.

Source : Equity Bulls

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