IL&FS Transportation Networks (ITNL) announced that the company had submitted bids with the Road Infrastructure Company Kerala (RICKL) for rehabilitation of state highways and major district roads-package III (A) Southern Region Total 96.72 Km and Rehabilitation of State Highways and Major District Roads - Package III (B) Southern Region Total 97.54 Km in the state of Kerala under DBFMT on annuity basis.

The projects are on annuity basis with a concession period of 15 years including construction period of 730 days and the estimated cost of project IIIA is Rs 1.21 billion and project IIIB is Rs 1.68 billion.

The bids were opened on Apr.04,2014 by RICKL and the company has emerged as the lowest bidder for the afore said projects.The company had quoted an annuity of Rs 353.5 million for project IIIA and Rs 445 million for project IIIB.

Shares of the company gained Rs 3.95, or 3.13%, to trade at Rs 130. The total volume of shares traded was 39,826 at the BSE (1.23 p.m., Monday).