IRB Infra emerges as a preferred bidder for Gandeva - Ena Eight Lane Hybrid Annuity (HAM) project in Gujarat

IRB Infrastructure Developers Ltd (IRB), India's leading and the largest highways infrastructure developers has emerged as a preferred bidder for construction of eight lanes of Vadodara - Mumbai Expressway in Gujarat, on the Gandeva - Ena stretch having length 27.500 Kms with the project cost of Rs.1,755 Crores.

Commenting on the development, Mr. Virendra D. Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers Ltd. said, "We are happy to see the Company being awarded another section of prestigious Vadodara - Mumbai Expressway in Gujarat. Winning this project once again validates our domain expertise, rich experience and execution capabilities demonstrated over last two decades."

Key highlights of the Projects are as under:

- The subject project (Package-VII) is part of India's ambitious 'Bharatmala Pariyojana' of the NHAI under Phase-I.

- It is a green-field project of eight laning of Gandeva - Ena stretch of 27.500 Kms on upcoming Vadodara - Mumbai Expressway.

- The concession will comprise 730 days for construction and 15 years Operations & Maintenance rights thereafter

- Upon award of this project, Company's Order Book will stand at Rs. 13,755 Crores

To recollect, the Company is also constructing another stretch on this prestigious Expressway project between Padra and Vadodara having length of 23.740 Kms with cost outlay of Rs.2,043 Crores.

Shares of IRB INFRASTRUCTURE DEVELOPERS LTD. was last trading in BSE at Rs.122 as compared to the previous close of Rs. 121.85. The total number of shares traded during the day was 67870 in over 1083 trades.

The stock hit an intraday high of Rs. 123.75 and intraday low of 120.8. The net turnover during the day was Rs. 8279482.

Source : Equity Bulls

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