Sadbhav Engineering jumps on emerging successful bidder for project worth Rs 720 crore

20 Nov 2012

Sadbhav Engineering is currently trading at Rs. 143.00, up by 3.50 points or 2.51% from its previous closing of Rs. 139.50 on the BSE.

The scrip opened at Rs. 141.00 and has touched a high and low of Rs. 143.00 and Rs. 140.60 respectively.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 161.00 on 30-Mar-2012 and a 52 week low of Rs. 94.00 on 30-Dec-2011.

Last one week high and low of the scrip stood at Rs. 143.35 and Rs. 135.00 respectively. The current market cap of the company is Rs. 2,158.00 crore.

The promoters holding in the company stood at 47.42% while Institutions and Non-Institutions held 40.89% and 11.68% respectively.

Sadbhav Engineering emerges as the successful bidder in respect of the bid invited by National Highways Authority of India (Ministry of Road Transport and Highways) G-5&6, Sector-10D, Dwarka, New Delhi - 110075 for the project of Four laning of Rajsamand-Bhilwara Section of NH-758 (from km 0.000 to km 872.250) under NHDP Phase IV in the State of Rajasthan on DBFOT (Toll) Basis.

The estimated total cost of development for above project stands at Rs 720 crore. The concession period of the project is 30 years from appointed date. The company is eligible for grant of Rs 266.40 crore (39.30% of tender project cost).

Sadbhav Engineering (SEL) is one of the largest BOT developers in the road sector in India with good project execution skills. SEL operates in the four distinct business areas in the infrastructure sector viz. BOT road projects, cash contract-based road projects, irrigation projects and mining.

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