IRB Infra on good roads

IRB Infra opened 5% higher at Rs.108.30 and went on to hit an intraday high at Rs.112.30. Its 20% UC for the day stands at Rs.124.

Yesterday late evening, the company announced receipt of two orders, one from West Bengal and another from Himachal Pradesh. With these orders in the bag, its total tally of orders for FY21stands at Rs.5004 crore.

The West Bengal project, worth Rs.2421 crore is under the Bharatmala Pariyojana, to be executed on BOT (Toll) basis. This is for six laning of National Conidor NH-19 from Palsit to Dankuni. The concession perido if 17 years and company will get tolling rights on the Project from the Appointed Date. And the premium to be paid as a percentage of revenue is 10.8% commencing after one year of actual completion date and increasing annually by 1 % thereafter.

The second project is for Himachal Pradesh on Hybrid Annuity Mode and is for Rehabilitation and Upgradation to Four Lane configuration & Strengthening of Punjab - HP Border. The project cost of this is Rs.828 crore. This entails a construction period of 730 Days & Operation Period of 15 years commencing from COD.