IRB Infrastructure Developers (IRB) share price rallied over 8 percent in early trade on Wednesday after the company announced the winning of two highway projects in West Bengal and Himachal Pradesh. The two projects take the company's total project wins in the current fiscal to Rs 5,004 crore.
IRB Infra received a Letter of Award from the National Highways Authority of India (NHAI) for a BOT (build, operate, transfer) project in West Bengal and a Hybrid Annuity Model (HAM) project in Himachal Pradesh.
The company said it received the letter of award (LOA) for the BOT Project in West Bengal involving six-laning of Dankuni-Palsit stretch of 63.38 km of NH-19 with the project cost of Rs 2,421 crore.
It has also emerged as a preferred bidder for the HAM Project in Himachal Pradesh involving four-laning of 28.700 km stretch on Pathankot Mandi section of the NH-20 (New NH-154) with the bid project cost of Rs 828 crore.
IRB Infrastructure Developers closes FY21 with Rs 5,004 crore contracts
With the entry in West Bengal and Himachal Pradesh, the company's footprints is now spread to 10 states across India, IRB Infrastructure Developers said in a regulatory filing.
The total order book of the company stands at Rs 14,509 crore including a construction order book of Rs 7,583 crore, providing revenue visibility of more than two years.
At 9: 35 am, the shares of IRB Infrastructure Developers traded 7.40 percent higher at Rs 111.00 apiece on the BSE as compared to a 0.75 percent loss on the benchmark Sensex.