Madhucon Projects announced that the company received the letter of award (LoA) from National Highway Authority of India (NHAI) worth Rs 3.97 billion.

This project work of improvement, augmentation of two laning with Paved Shoulders from Km 1.600 to Km 80.000 (existing chainage) (design chainage from Km 1.600 to Km 80.133) of Nagapattinam - Thanjavur Section of NH-67 under NHDP-III on EPC mode (total design length 78.533 Km) in the state of Tamil Nadu.

Shares of the company declined Rs 2.35, or 4.08%, to settle at Rs 55.30. The total volume of shares traded was 56,358 at the BSE (Tuesday).