IRB Infra share price gains 2% on bagging NHAI order worth ₹2,132 crores
1 min read . Updated: 27 Feb 2023, 12:15 PM IST
Premium- The IRB Infra stock opened at ₹28.20 as compared to the previous closing price of ₹28.05. It hit an intraday high of ₹29.40 and an intraday low of 28.20
IRB Infrastructure share price gains 2% as it receives NHAI's road project in Gujarat. The National Highways Authority of India (NHAI) has awarded IRB Infra a project worth ₹2,132 crores to upgrade NH-27 to six lane with paved shoulder from Samakhiyali to Santalpur section in Gujarat.
The IRB Infra stock opened at ₹28.20 as compared to the previous closing price of ₹28.05. It hit an intraday high of ₹29.40 and an intraday low of 28.20.
“…the Company has now received Letter of Award from National Highways Authority of India (NHAI) for the project of “Upgradation to Six Lane with paved Shoulder of NH-27 from Samakhiyali to Santalpur section from km. 339+200 to Km. 430+100 in the State of Gujarat on BOT (Toll) Mode," the company said in a regulatory filing.
The total project length is 90.90 Km and cost is ₹2,132 crores.
The Company’s order book stands revised to approx. ₹20,892 crores (excluding GST), which includes construction order book of ₹9,714 crores providing strong visibility for next ~2.5 years, the company said.
The IRB Infra share price had hit a 52-week high of ₹35 on February 22, 2023 and a 52-week low of ₹17.91 on June 20, 2022.
In the quarter eneded December 31, 2022, IRB Infra reported APAT of ₹140 crore on revenue of ₹1,510 crore. The EBITDA stood at ₹740 crore and the EBITDA margin came in at 49.2%.
The company's consolidated gross debt reduced to ₹12,670 crore versus ₹12,710 crore, as of September 2022.