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IRB Infra rises on emerging as preferred bidder for Karnataka project

30 May 2012

IRB Infrastructure Developers is currently trading at Rs. 114.15, up by 0.20 points or 0.18% from its previous closing of Rs. 113.95 on the BSE.

The scrip opened at Rs. 114.00 and has touched a high and low of Rs. 115.00 and Rs. 113.15 respectively. So far 40682 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 210.15 on 21-Feb-2012 and a 52 week low of Rs. 100.25 on 14-May-2012.

Last one week high and low of the scrip stood at Rs. 118.00 and Rs. 108.30 respectively. The current market cap of the company is Rs. 3787.29 crore.

The promoters holding in the company stood at 67.55% while Institutions and Non-Institutions held 24.19% and 8.27% respectively.

IRB Infrastructure Developers has emerged as a preferred bidder for the project of Four Laning of Goa/Karnataka Border to Kundapur section of NH-17 from 93.700 km to 283.300 km in the state of Karnataka under NHDP phase IV on design, build, finance, operate and transfer (DBFOT) basis. The construction period for the project is 910 days

The estimated project cost of the company is Rs 2,400 crore with a concession period of 28 years. The company has sought Rs 536.22 crore as viability gap funding from NHAI.

On the consolidated basis, IRB Infrastructure posted a rise of 17.12% in its net profit at Rs 120.35 crore for the quarter ended March 31, 2012 as compared to Rs 102.76 crore for the same quarter in the previous year. Total income increased by 11.56% at Rs 881.18 crore for quarter under review as compared to Rs 789.85 crore for the quarter ended March 31, 2011.

Related IRB Infrastructure Developers Ltd. Links:

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SEBI Registered: Investment Adviser - INA000013323