IRB Infra qualifies to bid for Rs 22,000 crore road projects

IRB Infrastructure Developers has qualified to bid for projects worth Rs 22,000 crore from National Highway Authority of India (NHAI) and Gujarat State Road Development Corp (GSRDC) among others. These include projects from NHAI, GSRDC, Government of Rajasthan and Maharashtra state PWD.

IRB Infra recently emerged as the lowest bidder for four Build-Operate-Transfer (BOT) projects, amounting to Rs 4,300 crore, in addition to its Rs 5,300-crore order book as on March 31, 2009. It has also been selected by Maharashtra Government to develop the Rs 150-crore greenfield airport at Sindhdurg.

The current order book of the company will almost double to around Rs 10,350 crore from Rs 5,900 crore as on March 31, 2009, with these new projects in hand. In the last 30 years, IRB Infra and subsidiaries have built or operated and managed 1,440 kilometer of road length and has emerged as the largest toll operator in the country with daily toll revenue of around Rs 2 crore.

The infrastructure firm is also in the process of acquiring land in Pune to develop residential and commercial projects. Currently, its land bank consists of approximately 1,250 acres in Taje and Pimpoli talukas in Pune. It intends to acquire 150-200 additional land for its proposed township project.