IRB Infra Soars Over 5% On Bagging Two Projects

IRB Infrastructure Developers bagged two highway projects; the West Bengal project is worth Rs 2,421 crore and the Himachal Pradesh one amounts to Rs 828 crore

IRB Infrastructure Developers shares soared over 5 per cent in a weak market as the company bagged two highway projects, one each in West Bengal and Himachal Pradesh. At 2.00 pm, the shares of the infra company were trading at Rs 109.05, higher by 5.5 per cent, on the BSE. "IRB Infra received Letter of Awards from the National Highways Authority of India (NHAI) for a BOT project in West Bengal and a Hybrid Annuity Model (HAM) project in Himachal Pradesh," IRB Infra said in a regulatory filing to the stock exchanges. The West Bengal project is worth Rs 2,421 crore and the Himachal Pradesh one amounts to Rs 828 crore. Both these projects have taken the company's total project orders to over Rs 5,000 crore in FY21. IRB Infra is the largest private toll roads and highways infrastructure developer in India.