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Adani Enterprises bags LoA for road project from NHAI

Capital Market 

The company has received letter of award (LoA) for hybrid annuity road project in Kerala from National Highways Authority of India (NHAI).

The order comprises six laning of Azhiyur to Vengalam section of NH-17 (New NH-66) in Kerala on Hybrid Annuity Mode (HAM) under Bharatmala Pariyojna.

The company's bid project cost is Rs 1838.10 crore and the first year operation and maintenance (O&M) quote is Rs 8.65 crore. The construction period is 2.5 years and the operation period is 15 years.

Adani Enterprises is the flagship company of Adani Group, one of India's largest business conglomerates.

The company's net profit surged to Rs 362.37 crore in Q2 September 2020, compared with Rs 49.50 crore in Q2 September 2019. Revenue from operations stood at Rs 9,126.42 crore in Q2 FY21, rising nearly 8% from Rs 8,464.19 crore in the same period last year.

The scrip rose 0.14% to Rs 537.65. It traded in the range of 528.20 and 541 so far during the day.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Thu, January 14 2021. 12:32 IST