Kridhan Infra (KIL) announced that its associate Vijay Nirman Company (VNC) has been awarded a new project worth Rs 2.22 billion for rehabilitation and upgradation of the NH 167 in a joint venture in which it holds 51%.

KIL currently owns approximately 41% stake in VNC and hence, VNC operates as an associate company of KIL. Vijay Nirman is a pedigreed private construction company, having completed over 400 projects, in over 30 years of operations. VNC has a strong technical skill set with a superior leadership team. VNC also has a vast experience in the roads, bridges, airports and affordable housing segments and is well reputed for its timely execution. It generated revenues of approximately Rs 9 billion in FY18.

Kridhan Infra's proforma order book after consolidation of VNC in India and Swee Hong in Singapore, stands at Rs 35+ billion, as on March 31, 2018.

Shares of the company gained Rs 4.6, or 6.32%, to trade at Rs 77.35. The total volume of shares traded was 90,481 at the BSE (12.22 p.m., Wednesday).