IL&FS Transportation Networks shines on its arm bagging order for construction of Beawer-Gomti road project

28 Mar 2012

IL&FS Transportation Networks is currently trading at Rs. 185.00, up by 1.00 points or 0.54% from its previous closing of Rs. 184.00 on the BSE.

The scrip opened at Rs. 184.30 and has touched a high and low of Rs. 187.35 and Rs. 184.10 respectively. So far 17,144 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 256.65 on 04-Apr-2011 and a 52 week low of Rs. 143.10 on 02-Jan-2012.

Last one week high and low of the scrip stood at Rs. 189.65 and Rs. 180.10 respectively. The current market cap of the company is Rs. 3593.00 crore.

The promoters holding in the company stood at 71.20% while Institutions and Non-Institutions held 6.82% and 21.98% respectively.

IL&FS Transportation Networks arm - ITNL Road Infrastructure Development Company will undertake the construction of four lanning from the present two lanning of the Beawer-Gomti road project implemented by the company. The Ministry of Road Transport and Highways (MORTH) has decided to entrust the work for construction of the four lanning of the project.

The estimated cost of the project is Rs 1,200 crore. The concession period for the project shall stand extended from the present 11 years to 30 years from the appointed date i.e. from October 28, 2009.

Earlier, ITNL had signed a concession agreement on April 1, 2009 with MORTH, Government of India for development and operation of the existing two lane road from km 58.245 to km 177.050 (approximately 116.433 km) on the Beawer Gomti section of National Highway No.8 in the state of Rajasthan on DBFOT (toll) basis. The provisional completion certificate for the project was issued on August 24, 2010 and the toll collection had commenced from August 25, 2010.

Further, the concession agreement had also provided for undertaking construction of the four tailing of the project by the concessionaire, namely, ITNL Road Infrastructure Development Company.

IL&FS Transportation Networks has been involved in the development, operation and maintenance of national and state highways, roads (including urban roads), flyovers and bridges in Andhra Pradesh, Delhi, Gujarat, Maharashtra, Karnataka, Uttar Pradesh, Kerala, Jharkhand and Rajasthan.

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