New order win boosts Sadbhav Infrastructure

Sadbhav Infrastructure Project rose 1% to Rs 132.10 at 12:31 IST on BSE after the company received a letter of award from NHAI for new hybrid annuity project in Karnataka.

The announcement was made during trading hours today, 9 March 2018.

Meanwhile, the S&P BSE Sensex was up 135.76 points or 0.41% at 33,487.33. The S&P BSE Mid-Cap index was up 45.23 points or 0.28% at 16,088.78.

On the BSE, 12,000 shares were traded on the counter so far as against average daily volumes of 34,000 shares in the past one quarter. The stock had hit a high of Rs 135.35 and a low of Rs 130.20 so far during the day. The stock had hit a record high of Rs 157.50 on 11 January 2018 and a 52-week low of Rs 89.65 on 27 September 2017.

The mid-cap company has equity capital of Rs 352.23 crore. Face value per share is Rs 10.

Sadbhav Infrastructure Project announced that the company has received letter of award from National Highways Authority of India (NHAI) for new hybrid annuity project under NHDP Phase-IV in Karnataka. The project is for four laning of Tumkur - Shivamogga section in Karnataka. The bid price for project is Rs 933.82 crore and the project construction period is 730 days from appointed date.

On a consolidated basis, Sadbhav Infrastructure Project reported a net loss of Rs 41.20 crore in Q3 December 2017, compared with net loss of Rs 69.65 crore in Q3 December 2016. Net sales rose 93.82% to Rs 624.37 crore in Q3 December 2017 over Q3 December 2016.

Sadbhav Infrastructure Project is into development, operation and maintenance of road infrastructure assets. It undertakes turnkey contractual works and other than civil construction of the projects.

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