IRB Infra wins projects in Tamil Nadu worth Rs.3,492 crore

Leading construction company, IRB Infrastructure Developers (IRB), has won two projects under Hybrid Annuity Model in Tamil Nadu. This is also the first project for the company under Hybrid Annuity space.

The projects is for four laning of two stretches on NH 332 in Tamail Nadu. The projects aggregate to 94.80 Km with a total cost outlay of about Rs. 3,492 crore. The concession will consist of 730 days for construction work and 15 years of operations and maintenance rights.

IRB is one of the largest private roads and highways infrastructure developers in India with presence in BOT and HAM space. With this project, the company’s construction order book stands at more than Rs.10,000 Crore. 

At 10:54 hrs, IRB was trading at Rs 219.85 per share, up Rs. 3.9 or 1.81 per cent on BSE. The scrip opened at Rs. 219.70 and touched an intraday high of Rs. 222.20 per share on BSE. The stock has a 52-week high of Rs. 272.40 and 52-week low of Rs. 193.80 per share on NSE. The stock attracted a traded volume of 1,05,881 shares on BSE.