IRB Infrastructure Developers in the green on order win
DSIJ Intelligence / 12 Dec 2016
IRB Infrastructure Developers has emerged as a preferred bidder for the project of six laning of Kishangarh-Gulabpura section of NH 79A and NH 79 in Rajasthan.
IRB Infrastructure Developers has emerged as a preferred bidder for the project of six laning of Kishangarh-Gulabpura section of NH 79A and NH 79 in Rajasthan. The company will construct length of about 90 km on DBFOT (Toll) under NHDP Phase V Package-I Project. The concession period of the project is 20 years. including construction period of 910 days.
IRB Infrastructure Developers will get tolling rights on project from the appointed date. The company has offered premium of Rs 186.3 crore to NHAI in terms of concession agreement. After receiving the order, its order book stood at Rs 11061 crore.
On the financial front, IRB Infrastructure’s revenue increased 12.31 per cent to Rs 1291 crore in Q2FY17 as compared to the same period in the previous financial year. The company’s operating profit too rose 17.17 per cent to Rs 709 crore in Q2FY17 on yearly basis. However, its net profit dropped 5 per cent to Rs 142 crore in Q2FY17 as compared to the same period in the previous fiscal.
The share price of IRB Infrastructure increased 2.98 per cent on the bourses in early trades and is trading at Rs 194.45 on intra-day basis.