IRB Infrastructure on Thursday said that it had won an order worth Rs 2,650 crore from the National Highways Authority of India (NHAI). IRB Infrastructure shares gained on the news, rising over 2.5 per cent to Rs 248.15.
At 12:13 pm, IRB Infrastructure shares were trading nearly 2 per cent up at Rs 246.35, outperforming the broader Nifty and the Sensex which were down around 0.20 per cent.
“The company has emerged as a preferred bidder for the project of six laning of Agra – Etawah bypass section from NH-2 in the state of Uttar Pradesh under NHDP Phase- V on BOT (Toll) mode,” IRB Infrastructure said in a filing to the stock exchanges.
The company said the estimated project cost is approximately Rs 2,650 crore with a construction period of 910 days. The concession period for the same is 24 years, it said.
IRB Infrastructure said its order book will stand to increase to approximately Rs 10,900 crore, to be executed in the next four years. This will boost the IRB Infrastructure’s construction order-book visibility for next 3-4 years, it added.
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