GPT Infraprojects Ltd on Monday, December 22, said it has emerged as the lowest bidder (L1) for a ₹670-crore road project awarded by the National Highways Authority of India (NHAI), strengthening its order book in the highways segment.
The order has been secured by a consortium comprising GPT Infraprojects and ISCPPL, with the bid submitted in the name of GPT-ISCPPL (Consortium). The project involves the construction of a four-lane elevated road in Jodhpur city, Rajasthan, from Mahamandir to Akhaliya Chouraha.
The project will be executed under the hybrid annuity model (HAM), the company said, adding that the contract value stands at ₹670 crore.
Recent order wins
The latest development comes close on the heels of another major contract win by the Kolkata-based infrastructure firm. On December 18, GPT Infraprojects announced that it had secured a ₹1,804.48-crore project from the Municipal Corporation of Greater Mumbai (MCGM).
The Mumbai project involves the construction of a flyover along LBS Marg, connecting Kalpana Talkies in Kurla (L Ward) to Pankhe Shah Dargah in Ghatkopar West (N Ward) in the city’s eastern suburbs.
The contract is to be executed over a period of 36 months, excluding monsoon seasons. The project has been awarded under a joint venture structure, with GPT Infraprojects holding a 26% stake, translating into a share of ₹469.16 crore.
The company also clarified that the order has been awarded by a domestic entity and that neither the promoter nor the promoter group or related companies have any interest in MCGM.
Shares of GPT Infraprojects Ltd ended marginally lower by 0.45% at ₹107.46 on the NSE today, December 22.
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