New road projects boosts Ramky Infrastructure

December 12, 2011

Ramky Infrastructure surged 7.19% to Rs. 220 at 14:35 IST on BSE after the company said it has secured two road projects aggregating Rs. 2240.65 crore from National Highways Authority of India.

The company made this announcement during trading hours today, 1 December 2011.

Meanwhile, the BSE Sensex was up 355 points, or 2.2% to 16,478.46.

On BSE, 35,995 shares were traded in the counter as against average daily volume of 6,139 shares in the past one quarter.

The stock hit a high of Rs. 226.70 and a low of Rs. 208 so far during the day. The stock had hit a record low of Rs. 200 on 5 October 2011. The stock had hit a 52-week high of Rs. 363.85 on 1 December 2010.

The stock underperformed the market over the past one month till 30 November 2011, falling 14.21% compared with the Sensex’s 9.44% fall. The stock had also underperformed the market in past one quarter, sliding 9.84% as against Sensex’s decline of 3.32%.

The mid-cap infrastructure developer has an equity capital of Rs. 57.20 crore. Face value per share is Rs. 10.

Ramky Infrastructure said the first road project is for six laning of Agra – Etawah bypass section of national highway (NH)-2 covering the stretch between 199.660 Kilometres (KM) to 323 KM under National Highways Development Project (NHDP) Phase V in Uttar Pradesh. The project is to be executed on built-operate-transfer (BOT) (Toll) on design, build, finance operate and transfer (DBFOT) pattern, the company said in a statement. The concession period for the project is 30 years including the construction period of 910 days. The estimated cost of the project as per the client is Rs. 1207 crore, Ramky added.

The second road project involves four laning of Hospet – Chitradurga section of NH-13 covering the stretch between 299 KM to 418.60 KM in Karnataka under NHDP Phase III. The project is to be executed on BOT (Toll) on DBFOT pattern, the company said in a statement. The concession period for the project is 25 years including the construction period of 910 days. The estimated cost of the project as per the client is Rs. 1033.65 crore, Ramky added.

On a consolidated basis, Ramky Infrastructure’s net profit rose 9.5% to Rs. 44.20 crore on 31.6% rise in net sales to Rs. 736.63 crore in Q2 September 2011 over Q2 September 2010.

Ramky Infrastructure is an integrated construction, infrastructure development and management company. Since the commencement of its business in 1994, the company has undertaken a range of construction and infrastructure projects in various sectors such as water and waste water, transportation, irrigation, industrial construction & parks (including special economic zones), power transmission and distribution, and residential, commercial & retail property.

Source: indiainfoline.com

Share your comments here: