Sadbhav Infrastructure Project jumped 6.43% to Rs 104.30 at 10:41 IST on BSE after a wholly-owned subsidiary of the company started toll collection after receiving provisional completion certificate for a road construction project in Rajasthan.
The company made the announcement after market hours yesterday, 9 June 2016.Meanwhile, the BSE Sensex was up 18.31 points, or 0.07%, to 26,781.77
On BSE, so far 64,256 shares were traded in the counter, compared with an average volume of 34,236 shares in the past one quarter. The stock hit a high of Rs 108.15 and a low of Rs 103.20 so far during the day. The stock hit a record high of Rs 112.25 on 16 September 2015. The stock hit a record low of Rs 66.30 on 15 February 2016. The stock had underperformed the market over the past one month till 9 June 2016, falling 0.81% compared with Sensex's 4.18% rise. The scrip had also underperformed the market in past one quarter, rising 7.22% as against Sensex's 7.94% rise.
The mid-cap company has equity capital of Rs 352.23 crore. Face value per share is Rs 10.
Sadbhav Infrastructure Project's wholly-owned subsidiary, Bhilwara-Rajsamand Tollway (BRTPL), has received provisional completion certificate for 86 kilometres (kms) out of total 87.25 km on 4 June 2016 and accordingly toll collection has started on the project from 9 June 2016. The project involved four laning of Rajsamand-Bhilwara section of National Highway-758 in Rajasthan on design, build, finance, operate and transfer (DBFOT) toll basis was awarded by National Highways Authority of India. The original concession period for the project is 30 years, which ends on 8 October 2043. The total project is Rs 676.10 crore out of which equity and sub equity from sponsor shall be Rs 133.30 crore. Rupee term loan of Rs 276.40 crore has been provided by the lenders which is to be repaid upto September 2031. The grant provided by National Highways Authority of India (NHAI) is Rs 266.40 crore.
Out of total portfolio of 11 projects of the company, 10 projects are operational and 1 project is in advanced stage of construction.
Sadbhav Infrastructure Project reported consolidated net profit of Rs 0.17 crore in Q4 March 2016 as compared to net loss of Rs 81.66 crore in Q4 March 2015. Net sales rose 118.9% to Rs 281.79 crore in Q4 March 2016 over Q4 March 2015.
Sadbhav Infrastructure Project is into development, operation and maintenance of road infrastructure assets. It undertakes turnkey contractual works and other than civil construction of the projects.
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