Udayshivakumar Infra’s shares are expected to be in focus on September 6 after the company, through its joint ventures (JVs) with KMC Construction (KMCCL), secured three new National Highway projects worth Rs 1,057.3 crore in total.
The infrastructure company, in an attempt to expand its business, formed the JVs with KMCCL to bid for highway projects of Karnataka under Engineering, Procurement, and Construction model. It has emerged as the lowest bidders in all three bids won by the JV, including major widening project of NH-548B, whose 51 percent revenue would accrue to Udayshivakumar Infra, while the remaining 49 percent goes to KMCCL.
While the concessions for the other two projects have been valued at Rs 366.19 crore and Rs 299.19 crore, respectively, Udayshivakumar Infra holds a 97.75-per cent share in them, and KMCCL will have 2.25 per cent. The JV is currently waiting for an LoA from the National Highways Authority.
Shares of Udayshivakumar Infra have surged around 70% since its listing in April 2023, after having slipped 10% on listing. In the last one year, it has surged 53%, while the Nifty 50 index rose 30%.
Do you have a news tip for Lakshmishree reporters? Please email us at media@lakshmishree.com
Source: Moneycontrol
News Desk
