IL&FS Engineering wins Rs 154-cr contract from Power Grid

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Infrastructure firm IL&FS Engineering and Construction Company today said it has won a Rs 153.99-crore contract from Power Grid Corporation of India Ltd (PGCIL) for transmission line works in Gujarat. “IL&FS Engineering and Construction Company Ltd and Unitech Power Transmission Ltd JV has received letter of award for Rs 153.99 crore turnkey works of 765 kV transmission line in Gujarat from PGCIL,” the company said in a BSE filing. The scope of work includes supply contract for tower package for 765 kV Bhuj-Banaskanta Transmission Line associated with green energy corridor. “The total value of this contract is Rs 153.99 crore, and the project completion period is 24 months from the date of issue of the letter of award (LoA),” the company said. The contract has been won under international competitive bidding process and the project is funded by the KFW Bank, it added. ILandFS Engg stock price On March 23, 2016, ILandFS Engineering and Construction Company closed at Rs 44.90, up Rs 0.85, or 1.93 percent. The 52-week high of the share was Rs 104.70 and the 52-week low was Rs 39.30. The latest book value of the company is Rs 12.33 per share. At current value, the price-to-book value of the company was 3.64.