IL&FS Engineering and Construction Company has received a Letter of Intent (LoI) from Ireo for construction of its residential project 'Gurgoan Hills' located at Gurgoan, Haryana. The total value of the project is Rs 1.75 billion, which is to be completed in 39 months.

The scope of work includes construction of civil, internal finishes (common areas and hardscape), boundary wall, external development work for the project and management, coordination and supervision works for electrical low side, IT/ LV, plumbing, fire fighting, HVAC, basement ventilation, gas piping, water treatment plant, swimming pool, water vodies including basements underneath works and other associated works of the project.  

Shares of the company gained Rs 2.45, or 6.16%, to settle at Rs 42.25. The total volume of shares traded was 9,912 at the BSE (Tuesday).