IRB Infrastructure Developers, one of the largest BOT road developers in India, announced Tuesday it has received Letter of Award (LoA) from NHAI for the project of six laning of Agra-Etawah Bypass section of NH-2 (from km 199.660 to km 323.525) in the State of Uttar Pradesh under NHDP Phase-V on BOT (Toll) mode (the project).

The estimated project cost of the company is approximately Rs 26.50 billion with construction period of 910 days. The concession period for the same is 24 years.

This project will expand the company's base in 8th state viz. Uttar Pradesh and thereby it will aid the company's geographic diversification of projects.

With this project, IRB's construction order book increased to Rs. 107.70 billion, to be executed in the next three to four years.  This will boost the company's visibility for next three to four year.

Shares of the company gained Rs 4.7, or 1.97%, to trade at Rs 243.35. The total volume of shares traded was 92,217 at the BSE (10.32 a.m., Tuesday).