IRB Infra on a smooth road

In the morning session, IRB Infra is amongst the top three gainers on the BSE, going up 4% to Rs.266 and closer to its 52-week high of Rs.272.20.

Yesterday, after market hours, the company stated that it has received a letter of award from NHAI for a six-laning road project from Udaipur to Gujarat Border, around km 287.4 to 401.2 section of NH 8 in the states of Rajasthan and Gujarat.

This project is on DBFOT pattern - design, build, finance, operate and transfer. The project cost is estimated at Rs.2100 crore and the concession period of the project is 21 years, including construction period of 910 days.

The company stated that it offered premium of Rs 163.80 crore to NHAI in terms of concession agreement.

On receipt of this order, the company’s order book currently stands at over Rs.13,000 crore.