This construction company receives LOA for a Rs 2,132 crore project!

This construction company receives LOA for a Rs 2,132 crore project!

by 5paisa Research Team Last Updated: Feb 27, 2023 - 11:04 am 641 Views
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The company was among the buzzing stocks in the morning trade.

BoT project in Gujarat

In its most recent press release, IRB Infrastructure Developers Ltd announced that it had received a letter of award (LOA) for a Rs 2,132 crore BOT project in the state of Gujarat. The project, which has a concession period of 20 years from the appointed date, is the 6 lane of the 90.90 km stretch in Gujarat between Samakhiyali and Santalpur. When the above project is awarded, the company's order book will be revised to Rs 20,892 crore.

The project has 2 years construction period with a premium to the Authority in the form of revenue share at the rate of 42.84 % of the realizable fee from the project from the second year after the project completion date, which shall be increased by 1% of the realizable fee every subsequent year for the remaining concession period.

Stock price movement of IRB Infrastructure Developers

Shares of IRB Infrastructure Developers Ltd rose 3.21% today to Rs 28.95 per share, with an intraday high of Rs 29.40 and a low of Rs 28.20. The stock's 52-week high is Rs 35, and its 52-week low is Rs 17.91. 

Company profile

IRB Infrastructure Developers Ltd is an infrastructure development and construction company in India with extensive experience in the roads and highways sector. It is also involved in other business segments in the infrastructure sector, such as road maintenance, construction, airport development, and real estate. Currently, the company operates one project under the TOT (Toll-operate-transfer) model, 3 projects under the BOT (Build-operate-transfer) model, and 3 projects under the HAM (Hybrid-annuity-model) model for various concession periods.

In terms of finance, IRB Infrastructure Developers has a market capitalization of Rs 17,483 crore and a three-year CAGR of 44%.

Quarterly performance

The company's quarterly consolidated results and annual consolidated results were both excellent. In comparison to Q3FY22, net sales increased by 18.38% and net profit increased by 93.15% in Q3FY23. With regards to FY21, net sales increased by 9.53% and net profit increased by 107.68% in FY22.

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