IRCON International received letter of award (LoA) from National Highways & Infrastructure Development Corporation (NHIDCL) for construction of tunnel in Mizoram for Rs 630.66 crore.
The scope of the work includes construction of twin tube uni-directional Aizawl bypass tunnel on Sairang Phaibawk section of NH-6 in the state of Mizoram on engineering, procurement and construction (EPC) mode.The cost of the project is 630.66 crores and it is to be executed in 36 months.
IRCON International is a public sector construction company, with emphasis on infrastructure projects, with specialization in execution of Railway projects on turnkey basis and otherwise. After commencing business as a railway construction company, it diversified progressively to roads, buildings, electrical substation and distribution, airport construction, commercial complexes, as well as metro rail works.
The company's consolidated net profit increased 28.76% to Rs 244.64 crore on 22.91% rise in revenue from operations to Rs 2,884.22 crore in Q3 FY24 over Q3 FY23.
The scrip advanced 3.81% to end at Rs 216.45 on Friday, 15 March 2024.
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