NHAI awards toll fee collection project to MEP Infra

The National Highways Authority of India (NHAI) has granted Letter of Acceptance (LoA) to MEP Infrastructure Developers Ltd. informing that the company has been engaged as the Contractor for user fee collection at Athur Toll Plaza. The toll collection point is on NH-45 in the state of Tamil Nadu at km 103.50 on Tambaram to Tindivanam section from km 74.50 to km 121.00.

The duration of the contract is for one year, the operations would commence within two days after submission of performance security and signing of contract. For this project, the contractual amount decided is Rs. 85.05 crores which will be payable to NHAI over the said period of one year. The payment would be made on a weekly basis.  

Earlier, MEP Infra had incorporated four new SPVs (Special Purpose Vehicles) for executing projects of NHAI.  

For the quarter ending March 2018, on consolidated basis, the company’s top-line was up by ~80 percent YoY. While its net profit jumped by ~121 percent to Rs 26.5 crores from Rs 12 crores on YoY basis. The company’s Board of Directors have declared dividend of Rs 0.30 per equity share having face value of Rs 10 each.  

On Friday, the stock opened at Rs 81.70 per share which was the intraday high and later dipped to Rs. 79, down by 2.2 percent from previous close of Rs 80.80.