IVRCL Assets shines on bagging order from Ministry of Road Transport

IVRCL Assets & Holdings is currently trading at Rs 29.40, up by 0.60 points or 2.08% from its previous closing of Rs 28.80 on the BSE.

The scrip opened at Rs 29.75 and has touched a high and low of Rs 30.25 and Rs 29.00 respectively. So far 7565 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 131.00 on 28-Sep-2010 and a 52 week low of Rs 28.15 on 22-Sep-2011.

Last one week high and low of the scrip stood at Rs 31.25 and Rs 28.15 respectively. The current market cap of the company is Rs 567.50 crore.

The promoters holding in the company stood at 82.98% while Institutions and Non-Institutions held 9.31% and 7.70% respectively. 

IVRCL consortium has been awarded a contract by Ministry of Road Transport & Highways, Government of India for widening of existing road to 2 lane NH standards along with improvement and re-alignment from Nechipu to Hoj via Seppa, Khodaso, Saggalee (part of Trans Arunachal Highway) under Arunachal Pradesh Package of Roads and Highways on DBFOT, Annuity basis.

The estimated project cost is Rs 1,486.00 crore for 311 Kilometer (Km) length of the project. The Ministry shall provide a cash support of Rs 1,004.00 crore to the concessionaire to implement the project. Besides widening of the existing road, it also includes construction of Realignments - 52.60 Kms, Grade Intersections - 49 Nos., Major Bridges - 2 Nos., Minor Bridges - 30 Nos., and Culverts - 1707 Nos. The concession period for the project is 17 years from the appointed date and the project is slated to be completed within a 4 1/2 years period.

The project is being implemented jointly between IVRCL Assets & Holdings (IVRCL A&H) and Sushee Infra, by incorporating an SPV company wherein IVRCL A&H shall hold 26% of the equity and IVRCL will undertake the construction work of the proposed road.

Further, IVRCL's Power, Buildings, Transportation, Water and Mining Divisions have also bagged orders. The Power Division, Building Division, Transportation Division, Water Division and Mining Division has bagged order worth Rs 108.44 crore, Rs 234.87 crore, Rs 104.65 crore, Rs 263.30 crore and Rs 31.68 crore respectively.

IVRCL is engaged primarily in providing Engineering, Procurement, Construction and Commissioning services in major infrastructure segments including urban/rural water supply, irrigation and environment related projects, pipelines, power projects (substations and transmission and distribution Lines), buildings and industrial structures, roads and bridges.