Monday, 12 December 2016

IRB Infra expects 16-18% returns from Rajasthan project

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IRB Infra is set to get a boost with an order win for 6-laning a part of NH-79A and NH-79. This is the third order in a couple of months and 30 km target has been completed, said VD Mhaiskar, company's CMD. The internal rate of return (IRR) is expected to be at 16-18 percent for the project," said Mhaiskar. Company's share in golden quadrilateral is 20 percent and the company has Rs 14,000 crore in that quadrilateral. 

The company also expects to achieve financial closure in six months. Government's demonetisation move has impacted many sectors. Mhaiskar expects National Highways Authority of India (NHAI) to compensate for losses due to the cash clean-up drive. Compensation is expected in two parts. One part will be in the form of cash compensation and the other part will be in form of extension of concession timeline.

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