IRB Infra bags eight lane HAM project in Gujarat
IRB Infrastructure Developers Limited has bagged a project of construction of eight lanes of Vadodara-Mumbai Expressway in Gujarat, on Gandeva-Ena stretch, having a length of 27.500 kms, with a project cost of Rs 1,755 crore.
It is a greenfield project of eight-laning of Gandeva-Ena stretch of 27.500 kms on the upcoming Vadodara-Mumbai Expressway. Earlier, the company had also undertaken a similar type of project of constructing another stretch on the same expressway between Padra and Vadodara, having a length of 23.740 kms worth Rs 2,043 crore.
This project (package-VII) is part of India’s ambitious Bharatmala Pariyojana of National Highways Authority of India (NHAI) under Phase-I. The construction period will comprise of 730 days and 15 years of operations & maintenance rights thereafter.
With this order, the company’s order book stands at Rs 13,755 crore. Considering its consolidated revenue of FY20, the book-to-bill ratio comes out at 2.01x.
IRB Infrastructure Developers Ltd (IRB) is the largest private roads and highways infrastructure developer in India and its portfolio comprises of 21 projects, including 19 build–operate–transfers (BOT), 1 toll-operate-transfer (TOT) and 1 hybrid annuity model (HAM) projects.
On Wednesday, the stock of IRB Infra jumped 5.1 per cent to make an intraday high of Rs 128.20 from its previous close of Rs 121.95 on BSE.