MBL Infrastructures trades jubilantly on bagging NHAI project worth Rs 779 crore

27 Jun 2016

MBL Infrastructures is currently trading at Rs. 116.75, up by 7.20 points or 6.57% from its previous closing of Rs. 109.55 on the BSE.

The scrip opened at Rs. 109.90 and has touched a high and low of Rs. 118.05 and Rs. 109.10 respectively. So far 116113 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 299.50 on 24-Jul-2015 and a 52 week low of Rs. 104.25 on 24-Jun-2016.

Last one week high and low of the scrip stood at Rs. 120.50 and Rs. 104.25 respectively. The current market cap of the company is Rs. 487.09 crore.

The promoters holding in the company stood at 47.90%, while Institutions and Non-Institutions held 34.19% and 17.90% respectively.

MBL Infrastructures (MBL) has been awarded project worth Rs 779 crore on DBFOT Hybrid Annuity basis by National Highways Authority of India (NHAI). The projects is for six lane of greenfield proposed Udaipur bypass (Connection between NH-76 at existing km 118+500 at Debari to NH-8 Km 287+400 at Kaya village (Udaipur bypass-Length 23.883 Kms.)) on Hybrid Annuity Mode, Package-IV under NHDP phase V in the state of Rajasthan.

During construction, 40% of the bid project cost (Rs 311.60 crore) will be funded by NHAI and the balance 60% (Rs. 467.40 crore) will be arranged by the concessionaire. During the operation period, NHAI will pay concessionaire this 60% (adjusted for inflation during construction period) in semi-annual payments along with interest thereon at bank rate plus 3% and also semi-annual payments for Operations & Maintenance totaling Rs 63.75 crore for project (which will be further adjusted for inflation). The projects will be operational within 15 years commencing from commercial operation date (COD).

MBL Infrastructures is engaged in the construction and maintenance of roads and highways, industrial infrastructure projects and other civil engineering projects for various government bodies and other clients.


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