Adani Enterprises said that its subsidiary Adani Road Transport has received letter of award (LoA) from National Highways Authority of India (NHAI) for a toll operate transfer (TOT) road project in Gujarat.
Adani Road Transport (ARTL) is engaged in the business of construction, operation and maintenance of roads, highways, expressways. It had recently participated in the fifth round of bidding for toll operate transfer (TOT) mode issued by NHAI.
The consortium led by ARTL has received a letter of award (LOA) from NHAI for a road project in the State of Gujarat. The project involves tolling, operation, maintenance and transfer of Palanpur-Radhanpur-Samkhiyali Section of NH-27, the length of which is 53.6 kms. The concession period is 20 years.
With this project award, Adani Group will have total Seven NHAI road projects under HAM and TOT in the States of Chhattisgarh, Telangana, Andhra Pradesh, Madhya Pradesh, Kerala and Gujarat.
The scrip gained 0.30% to Rs 874 on the BSE. It traded in the range of 811.40 and 879 so far during the day.
Adani Enterprises is the flagship company of Adani Group, one of India's largest business conglomerates.
The company's consolidated net profit skid 11.1% to Rs 286.60 crore on 6.1% rise in net sales to Rs 11,620.45 crore in Q3 December 2020 over Q3 December 2019.
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