IRB Infrastructure Developers has received a Letter of Award from NHAI for the project of Rehabilitation and Upgradation to Four Lane configuration & Strengthening of Punjab/HP Border to Mo from Km 11.000 to Km 42.000 (Design Length 28.700 KM) of NH-20 (New NH-154) of Pathankot-Mandi Section in the state of Himachal Pradesh on Hybrid Annuity Mode (HAM) (Package-IA).
The company s bid project cost is Rs 778.64 crore.
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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.
The key equity barometers bounced back and hit the day s high in morning trade. The Nifty marched towards the 14,800 mark. Realty stocks witnessed bargain hunting after a four-day losing streak.
At 10:20 IST, the barometer index, the S&P BSE Sensex, was up 352.84 points or 0.71% to 50,097.16. The Nifty 50 index advanced 93.75 points or 0.64% to 14,769.45. The equity benchmarks saw value buying after declining over 4% in the past five sessions.
In the broader market, the S&P BSE Mid-Cap index gained 1.08% while the S&P BSE Small-Cap index added 0.73%.
The market breadth was strong. On the BSE, 1472 shares rose and 542 shares fell. A total of 91 shares were unchanged.
On private placement basisThe Board of IRB Infrastructure Developers at its meeting held on 22 February 2021 has approved the allotment of Unlisted, Unrated, Secured, Redeemable, Nonconvertible Debentures aggregating to Rs 2,184.55 crores on a private placement basis to India Toll Roads. For this purpose, the Company has executed the Debenture trust deed and other transaction documents.
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