IRB Infra stock gains on bagging project worth Rs 2,193 crore in West Bengal

India’s leading and largest highway infrastructure developer, IRB Infrastructure Developer Limited becomes a preferred bidder for the build-operate-transfer (BOT) project under Bharatmala Pariyojana in the state of West Bengal.

The company has bagged its first eastern India BOT project of six laning of National corridor NH-19 from Dankuni to Palsit, stretching up to 63.86 kms in the state of West Bengal. The project cost estimated by National Highways Authority of India (NHAI) is worth Rs 2,193.23 crore. The company has requested a grant of 4.5 per cent out of the total project cost from NHAI during the construction period.

The company will get a concession period of 17 years, which will include a construction period of 2.49 years or 910 days. The company will get the tolling rights on the project from the appointed date.

Following this project, the order book of the company in March 2020 stands at approximately Rs 14,600 crore. With a strong track record of construction over 12,300 kilometres pan India in over two decades, it has a capacity of constructing over 500 kilometres in a year.  

This project is a part of India’s prestigious Golden Quadrilateral project of which, the company has the largest share of approximately 20 per cent among infrastructure developers in India.

At around 12.12 pm, the share of IRB Infrastructure Developer Ltd was trading at Rs 124.4 with a growth of 2.03 per cent on BSE.