Kridhan Infra (KIL) is happy to announce that its associate company Vijay Nirman Company Private (VNC) has received a LoI (Letter of Intent) worth Rs 1.05 billion.

The company has been mandated to construct major and minor bridges, etc. for Package 4 of the Mumbai-Nagpur Super Communication Expressway in Maharashtra. The project is expected to be completed over a period of 12 months.

VNC is acclaimed as a leading player in bridge construction in India, with over 30 years of impeccable track-record. The company has seen strong order inflows in FY19 with order book at INR 32+ bn as on September 30, 2018.

Apart from EPC projects within the roads and bridges segment, affordable housing is a major growth driver for VNC and the segment constitutes a significant proportion of VNC’s un-executed order book. KIL currently owns approximately 41% stake in VNC and hence, VNC operates as an associate company of KIL.

Shares of the company gained Rs 2.55, or 5.44%, to trade at Rs 49.45. The total volume of shares traded was 16,733 at the BSE (9.59 a.m., Wednesday).