IRB Infra bags Rs 2,300 cr road project in Haryana

IRB Infrastructure Developers Ltd today said it has bagged a Rs 2,300 crore road project in Haryana from National Highways Authority of India (NHAI).

The project is for 4-laning of Kaithal-Rajasthan border section of NH-152/65 from 33.250 km to 241.580 km in Haryana, and it will be executed as build-operate-transfer (BOT) on design-build-finance-operate-transfer pattern under NHDP-IV.

IRB said in a statement that it has received Letter of Award after emerging as the selected bidder for the project.

It said: "The estimated project cost of the company is approximately Rs 2,300 crore with construction period of 910 days. The concession period for the same is 27 years."

This project will expand the company's base in Haryana and thereby aid geographic diversification of projects, the company added.

Late last month, IRB had announced that it had won a Rs 3,200 crore project from NHAI in Maharashtra for 4-laning of Yedeshi–Aurangabad section of NH-211 from 100 km to 290.20 km.

With today's announcement, IRB's construction order book will increase from Rs 8,600 crore to approximately Rs 10,600 crore, the company said, adding that the orders have to be executed in the next three to four years.

"This will boost the company's construction order book visibility for next three to four year," it added.

Post the announcement, the IRB scrip was trading at Rs 124.10 on the BSE in the afternoon trade, up 7.12 per cent.

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