IRCON Intl bags LoA worth Rs 630 cr

IRCON International received letter of award (LoA) from National Highways & Infrastructure Development Corporation (NHIDCL) for construction of tunnel in Mizoram for Rs 630.66 crore.

The scope of the work includes construction of twin tube uni-directional Aizawl bypass tunnel on Sairang Phaibawk section of NH-6 in the state of Mizoram on engineering, procurement and construction (EPC) mode.

The cost of the project is 630.66 crores and it is to be executed in 36 months.

IRCON International is a public sector construction company, with emphasis on infrastructure projects, with specialization in execution of Railway projects on turnkey basis and otherwise. After commencing business as a railway construction company, it diversified progressively to roads, buildings, electrical substation and distribution, airport construction, commercial complexes, as well as metro rail works.

The company's consolidated net profit increased 28.76% to Rs 244.64 crore on 22.91% rise in revenue from operations to Rs 2,884.22 crore in Q3 FY24 over Q3 FY23.

The scrip advanced 3.81% to end at Rs 216.45 on Friday, 15 March 2024.

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