Gayatri Projects bags contract worth Rs 602 cr from NHAI

March 30, 2010

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MUMBAI: Construction firm Gayatri Projects today said it has bagged a road project worth Rs 602 crore from the National Highways Authority of India (NHAI).

The company has bagged the contract for six laning of 45 km stretch on Indore-Dewas national highway on build, operate, transfer (BOT) basis, Gayatri Projects said in a filing to the Bombay Stock Exchange (BSE).

“The company has agreed to pay a premium of Rs 24.10 crore to the NHAI annually and has a right to collect toll on the existing four lane highway through its SPV,” it said.

Shares of Gayatri Projects were trading at Rs 385 on BSE, down 1.52 per cent from its previous close.

Source: economictimes.indiatimes.com