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IRB Infrastructure Developers Ltd emerges preferred bidder for road project in UP

Posted On: 2018-03-22 01:33:00

IRB Infrastructure Developers Ltd has emerged as a preferred bidder for the project of Six Laning of Hapur bypass to Moradabad section including Hapur bypass from Km 50.000 (Design Ch. Km 50.000) to Km 148.277 (Design Ch. Km 149.867) of NH 24 (New NH-9) in the State of Uttar Pradesh on DBFOT basis under NHDP Phase V Project ('the Project)'.

The Project is on DBFOT Pattern. Project Length is approx. 99.867 Kms.

The concession period of the project is 22 years including construction period of 910 days. Total cost ofthe Project is approx. Rs. 3,400 Crore.

The Company will get tolling rights on the Project from the Appointed Date. The Company has offered premium of Rs. 31 .5 Crores to NHAI to be payable from 4th year from the appointed date in terms of the Concession Agreement.

Upon award of this Project, the Company's construction order book stands at approx. Rs. 15,300 Crores.

Shares of IRB INFRASTRUCTURE DEVELOPERS LTD. was last trading in BSE at Rs.217.8 as compared to the previous close of Rs. 217.65. The total number of shares traded during the day was 49866 in over 660 trades.

The stock hit an intraday high of Rs. 219.9 and intraday low of 216.75. The net turnover during the day was Rs. 10878737.

Source: Equity Bulls

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