IRB Infrastructure Developers advanced 2.84% to Rs 291.30 after the company announced that it has emerged as a preferred bidder for Rs 2,132 crore BOT Project in the State of Gujarat.
The project, with Concession Period of 20 years from the appointed date, involves six-laning of the 90.90 Kms stretch between Samakhiyali to Santalpur.
Virendra D. Mhaiskar, chairman & managing director, IRB Infrastructure Developers, said: We are proud to continue our winning streak in BOT space and this would be the sixth project that the company will be executing in the state of Gujarat.
The present project will be an important addition to IRB portfolio as this project caters to heavy commercial traffic connecting the Kandla and Mundra port and is brownfield part of the prestigious Amritsar Jamnagar expressway.
IRB Infrastructure Developers (IRB) is India's first Multinational Infrastructure player in Highways segment. As the largest integrated private toll roads and highways infrastructure developer in India, with this win, IRB group's asset base will swell to over Rs 62,000 crore spread in 10 States across the parent company and two InvITs.
The company's consolidated net profit increased by 94.50% to Rs 141.36 crore on a 18.37% rise in sales in Q3 FY23 over Q3 FY22.
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