INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Shares of MEP Infrastructure Developers gained over 2 per cent in Friday trade after the company received Letter of Acceptance
(LoA) from the National Highways Authority of India (NHAI) for a one year contract to act as a contractor for collection of user fee at
Paranur Fee Plaza in Tamil Nadu.
The stock rose 2.39 per cent to Rs 64.25 on BSE
The contractual amount for the said project is Rs 105.03 crore, payable to NHAI on a weekly basis over 1 year.
The operations will commence
within two days after complying the statutory formalities i.e
submission of performance security and signing of contract.
MEP Infrastructure Developers is an infrastructure operator and toll management
It focuses on serving central and state road authorities across the country, for managing, operating and maintaining their road assets.
The
company has interests in short-term and long-term toll collection and OMT projects
It has extended its business to BOT and OMT projects and construction of bridges.
The revenue for the company rose 34.3 per cent to Rs 2,322
crore in FY18 from Rs 1,729 crore in FY17 due to commencement of from Delhi Entry Point Project and higher contribution of EPC revenues.
PAT
(excluding exceptional items) for the year jumped 12 times to Rs 70.96 crore in FY18 from Rs 5.65 crore in FY17 led by higher contribution
of construction segment.
The promoters hold 69.87 per cent stake in the firm while institutions and non-institutions own 9.58 per cent and
20.55 per cent, respectively.
