IRB Infra wins Rs 828 cr highway project from NHAI in Himachal Pradesh

New Delhi, April 1

IRB Infrastructure Developers Ltd (IRB) on Thursday said it has received a letter of award from the National Highways Authority of India (NHAI) for a Rs 828 crore project in Himachal Pradesh.

On receipt of the award, the company's order book stands at Rs 14,509 crore.

"The company has received Letter of Award from NHAI for the project of Rehabilitation and Upgradation to Four Lane configuration & Strengthening of Punjab/HP Border... of NH-20 (New NH-154) of Pathankot-Mandi Section in the state of Himachal Pradesh on Hybrid Annuity Mode (HAM)," the company said in a regulatory filing to the BSE.

With this the total project wins in the just-concluded fiscal were worth Rs 5,004 crore, it said.

In a statement, Virendra D Mhaiskar, Chairman and Managing Director, said, “We are happy to receive the LoA from NHAI, the second one in a span of two days; and commence the new financial year 2021-22 on a positive note. We now have robust order book of over Rs 14,500 cr providing strong revenue visibility for coming years, which will strengthen further with new wins." Mhaiskar said it is further encouraging to note an increased inclination towards BOT (build, operate and transfer) projects by NHAI.

IRB claims to be the largest private toll roads and highways infrastructure developer in India, with an asset base of over Rs 54,000 crore in 10 states across the parent company and two InvITs.

It said it has a strong track record of constructing over 12,975 lane Kms pan India in 2 decades and can construct over 500 Kms in a year.

It has approx. 20 per cent share in India's prestigious Golden Quadrilateral project, which is the largest by any private infrastructure developer in India.

At present, IRB Group's portfolio (including Private and Public InvIT) has 23 projects that include 19 BOT, 1 TOT (toll operate transfer) and 3 HAM (hybrid annuity mode) projects. PTI