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IRB Infra emerges as preferred bidder for project in Gujarat at Rs2,043cr

IRB Infrastructure Developers Ltd has emerged as the preferred bidder for a project in Gujarat under NHDP phase VI

IRB Infrastructure Developers Ltd has emerged as the preferred bidder for a hybrid annuity project in Gujarat. The project is for the construction of Vadodara Kim Expressway in the state of Gujarat under NHDP phase VI.

The length of project is 23.74 km for the construction period of 730 days and operation period of 15 years. Company’s bid project cost is Rs2,043cr.

With addition of these projects, the company’s construction order book stands at ~Rs12,000cr to be executed in three years.

IRB Infrastructure Developers Ltd is currently trading at Rs220.50 up by Rs0.6 or 0.27% from its previous closing of Rs219.90 on the BSE.

The stock is currently trading below its 50 DMA.