IRB Infrastructure Developers bags contract worth Rs 6,555 cr from UPEIDA

IRB Infrastructure Developers bagged a letter of award from the Uttar Pradesh Expressways Industrial Development Authority (UPEIDA), the nodal agency of the project development, for developing Group I of the Ganga Expressway Greenfield BOT project.

IRB Infrastructure Developers will develop the 129.70 km stretch from Meerut to Badaun under Group I of the four groups of the project, with a cost outlay of Rs 6,555 crore, under the Design, Bid, Finance, Operate & Transfer (DBFOT) model with the traffic linked expandable concession period up to 36 years which includes 3 years for construction.

IRB Infrastructure Developers has already fully completed and commissioned its 124 km long Agra Etawah BOT project with cost outlay of around Rs 3,044 crore in Uttar Pradesh and is in final stages of completing and commissioning its 99 km long Hapur Moradabad BOT project with cost outlay of around Rs 3,345 crore.

Currently, the total order book of the company stands at Rs 19,210 crore including construction order book of Rs 12,677 crore, providing revenue visibility of next three years.

The company's reported a consolidated net profit of Rs 42.31 crore in the quarter ended September 2021 as against a net loss of Rs 19.66 crore during the previous quarter ended September 2020. Net sales rose 30.4% Y-o-Y to Rs 1,465.24 crore in Q2 FY22.

The scrip shed 1.43% to end at Rs 204 on Friday, 17 December 2021. IRB Infrastructure Developers is an infrastructure development and construction company in India with extensive experience in the roads and highways sector. The company is also into other business segments in the infrastructure sector, including maintenance of roads, construction, airport development and real estate.

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