Welspun Enterprises Ltd receives provisional certificate for commercial operation of BOT project

Welspun Enterprises Limited has received the Provisional Certificate for Commercial Operation ("PCOD") effective March 31, 2022, from National Highways Authority of India ("NHAI") for a length of 53.763 km (77.96%) out of total project length of 68.960 km, in respect of 8-laning of section of NH-1 (New NH-44) from Mukarba Chowk to Panipat on BOT (Toll) Basis.

With this, Welspun Infrafacility Private Limited ("SPV"), a wholly-owned subsidiary of the Company is entitled to collect toll on this BOT (Toll) Project.

Out of the Company's total HAM road portfolio of 7 projects of around Rs. 10,000 crore, 5 projects of Rs 6,300 crore had earlier achieved PCOD/COD. With the PCOD of this BOT (Toll) project, a total of 6 projects (of Rs 8,500 crore), in the Company's overall road portfolio of over Rs 12,000 crore, are now revenue-generating.

Shares of Welspun Enterprises Limited was last trading in BSE at Rs. 72.95 as compared to the previous close of Rs. 74.45. The total number of shares traded during the day was 144231 in over 1149 trades.

The stock hit an intraday high of Rs. 75.15 and intraday low of 72.30. The net turnover during the day was Rs. 10548493.00.

Source : Equity Bulls

Keywords

WelspunEnterprises INE625G01013 ProvisionalCertificate CommercialOperation Partial