Jun 23, 2011, 09.24 AM IST | Source: PTI

L&T inks pact with NHAI for Rs 2600cr highways project

Larsen and Toubro (L&T) today said its arm -- L&T Infrastructure Development Projects Limited has inked a Rs 2,600 crore concession agreement with the National Highways Authority of India (NHAI) for widening of Beawar-Pindwara highway in Rajasthan.

L&T inks pact with NHAI for Rs 2600cr  highways project

Larsen and Toubro (L&T) today said its arm --  L&T Infrastructure Development Projects Limited has inked a Rs 2,600 crore concession agreement with the National Highways Authority of India (NHAI) for widening of Beawar-Pindwara highway in Rajasthan.

"L&T BPP Tollway Private Limited, a SPV incorporated by L&T Infrastructure Development Projects Limited (L&TIDPL), has signed the Concession Agreement with NHAI today for four-laning of the 244 km stretch of NH 14 between Beawar and Pindwara situated in the State of Rajasthan," L&T said in a statement.

The Project would be executed on BOT DBFO (Design Build Finance & Operate) basis, with a concession period of 23 years.

"The estimated project cost is of the order of about Rs 2,600 crore, and the project is scheduled to be completed within a period of 30 months," the engineering and construction major said, adding that the developer is entitled
to collect toll from the users of the project.

The Project Corridor is one of the main evacuation routes for traffic from Kandla and Mundra Ports towards Northern India, extending to Rajasthan, Haryana, Delhi, Punjab and beyond.

The Project Corridor falls within the proposed Delhi-Mumbai Industrial Corridor (DMIC) and the four-laning of the 244 km stretch of NH-14 within this industrial corridor is expected to accelerate the development and growth prospects in
this region, the company said.

With this project, L&T currently has 16 projects in its BOT Roads Portfolio, out of which 7 are at present in operation phase, 8 in construction phase.

The project book size is of Rs 15,800 crore. Larsen & Toubro is a USD 11.7 billion technology, engineering and construction group, with global operations.

Larsen stock price

On April 17, 2014, Larsen and Toubro closed at Rs 1271.45, up Rs 10.95, or 0.87 percent. The 52-week high of the share was Rs 1325.80 and the 52-week low was Rs 678.10.


The company's trailing 12-month (TTM) EPS was at Rs 51.37 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 24.75. The latest book value of the company is Rs 272.53 per share. At current value, the price-to-book value of the company is 4.67.

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