IRB Infrastructure wins Rs 2,132 crore order from NHAI for Gujarat highway upgradation
IRB Infrastructure, a leading infrastructure development company, has secured a prestigious order worth Rs 2,132 crore from the National Highways Authority of India (NHAI) to upgrade the highway in Gujarat. As per the company’s regulatory filing, it has received a Letter of Award to upgrade the Samakhiyali to Santalpur section of NH-27 to a six-lane highway.
The project will cover a length of 90.90 km and will be executed on a build-operate-transfer (BOT) mode. Under this mode, IRB Infrastructure will build, operate and maintain the highway for a specified number of years. The company has received the contract for a concession period of 20 years, which includes two years of construction.
Following this latest order, IRB Infrastructure’s order book has increased to Rs 20,892 crore, including a construction order book of Rs 9,714 crore.
In the October-December quarter, the Mumbai-based company had reported a 94% increase in net profit to Rs 141.35 crore compared to the corresponding quarter of the previous fiscal year.
The stock of IRB Infrastructure traded in the green on Tuesday, quoting a price of Rs 29.50 on NSE around 1:15 PM. The scrip had hit a 52-week high of Rs 35 on February 22, following a split of its equity shares bearing a face value of Rs 10 each in the ratio of 10:1.
This latest order win is a testament to IRB Infrastructure’s capabilities in executing large-scale infrastructure projects in India.
About IRB Infrastructure:
IRB Infrastructure Developers Ltd is an infrastructure development and construction company in India with extensive experience in the roads and highways sector. It is also in other business segments in the infrastructure sector, including maintenance of roads, construction, airport development and real estate.
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