IL&FS Transportation Networks, the transportation infrastructure company, said today that it has emerged as lowest bidder for two projects worth Rs 41.74 bn from National Highways Authority of India (NHAI).

The company had submitted a bid with the NHAI for 4-laning of Amravati-Chikhli and Fagne-Gujarat/Maharashtra border section of NH-6 in the state of Maharashtra.

The estimated cost of Amravati-Chikhli road project is Rs 22.88 billion. The company had quoted a grant of Rs 1.83 billion for this project.

On the other hand, Fagne-Gujarat/Maharashtra border road project cost is estimated at Rs 18.86 billion. It had quoted a grant of Rs 2.45 billion for this project.

The concession for the both projects will be 19 years including construction period of 910 days.

Shares of the company gained Rs 0.7, or 0.48%, to settle at Rs 146.70. The total volume of shares traded was 66,397 at the BSE (Thursday).