Supreme Infrastructure secures 2 new Road BOT projects

December 12, 2011

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Supreme Infrastructure India Limited has added Two Road projects on BOT basis and a project in building vertical.

Jaipur Ring Road – This project is for the development of the outer ring road in Jaipur city. The project has been bagged by Supreme Infrastructure India Ltd. (SIIL) and its JV partner Constructora Spain S.A. (Sanjose ). The cost of the project is estimated at Rs. 1,045 crore and will be a 60:40 JV between Sanjose and Supreme Infrastructure India Ltd. (SIIL). The project is awarded by Jaipur Development Authority (JDA). The EPC work will be executed jointly by Supreme and Sanjose in equal proportion. This project will be housed in the SPV, Sanjose Supreme Tollways Development Private Limited.

Patiala Malerkotla Road – Supreme Infrastructure India Ltd. has taken over a partially completed project from the original concessioner. The project is in the State of Punjab and necessary approvals from Punjab Infrastructure Development Board has been taken by the Company in this respect. The project cost is estimated at Rs. 93 crore and is expected to get completed in 4 months. This project is housed in the SPV Supreme Infra Projects Private Limited. The entire equity of this SPV is held by Supreme Infrastructure BOT Private Limited, a 100% subsidiary of Supreme Infrastructure India Limited. The EPC work will be executed by Supreme Infrastructure India Ltd.

The company also received a work order for ESIC Hospital – Phase 2, Mumbai Work for the construction of 2nd Phase of ESIC Hospital, Mumbai has been awarded to the Company. The 2nd phase of the Hospital is in addition to the 1st Phase of the Hospital which is already under execution by the Company. Order size is Rs. 110 Crore and is expected to be executed by December – 2013.

The stock was trading at Rs.183, up by Rs.2.85 or 177%. The stock hit an intraday high of Rs.188.95 and low of Rs.177.

The total traded quantity was 10912 compared to 2 week average of 6825.

Source:http://www.equitybulls.com