IRB Infrastructure Developers added 3.13% to Rs 112.05 after the company received letter of award (LoA) from NHAI for a road project in Himachal Pradesh.
The project involves rehabilitation and upgradation to four lane configuration & strengthening of Punjab/HP border to Mo of NH-20 of Pathankot-Mandi section in Himachal Pradesh on hybrid annuity mode (HAM). The project length is 28.7 kms.
NHAI's project bid cost was Rs 758.04 crore and the company's project bid cost is Rs 778.64 crore. The construction period of the said project is 730 days and operation period is 15 years, commencing from the commercial operation date (COD).
IRB Infrastructure Developers is India's largest private toll roads and highways infrastructure developer. The company's consolidated net profit fell 56.5% to Rs 69.48 crore on 11.2% decline in net sales to Rs 1,547.16 crore in Q3 December 2020 over Q3 December 2019.
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