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| Edited By: |Source: Reuters |Updated: Mar 17, 2018, 03:33 AM IST
IRB Infrastructure Developers Ltd has qualified to bid for Rs 200 billion of road projects by National Highways Authority of India, chairman and managing director Virendra D Mhaiskar said on Monday.
These projects, when awarded, would be undertaken on a Build, Operate and Transfer (BOT) basis, he told Reuters over the telephone. He, however, did not provide the total lane kilometres the company has been pre-qualified to bid.
The company had won a total of 16 projects from NHAI, including four awarded in June 2009, of which 12 are currently operational.
IRB Infrastructure collects toll of around Rs24 million from operational projects per day. The company has around 3,100 lane kilometres of operational projects.
The company also has an order book position of around Rs92 billion as on date.
IRB Infrastructure Developers, which has a land bank of around 1,150 acres in Pune district, is scouting for a partner to develop a township.
"It could be a joint development project (with a partner whom) we would rope in, but that could take sometime...," he said.
The company is yet to initiate talks with any companies for partnerships.
On March 23, IRB Infrastructure said it has tied up debt of Rs25.99 billion for all its BOT projects.
The company also received a Rs7.75-billion finance from a consortium of financial institutions, including IDFC, Canara Bank and Bank of Baroda, it said on March 31.
"We have achieved (financial) closure for all the projects on March 31, and there are no outstanding projects," Mhaiskar said, adding that the projects will start after getting notifications from NHAI.
At 2.32 pm, shares of the company were trading up 2.36% at Rs266.50 a share on a strong Mumbai market.
