IL&FS Engineering and Construction Company announced that the company has received a Letter of Award (LoA) from National Highways Authority of India (NHAI) for a total value of Rs 12.32 billion for four laning of Patna-Gaya-Dobhi Section of NH-83 from km 0.000 to km 127.217 in the state of Bihar to be executed under JICA ODA Loan Assistance. The project completion period is 1,095 days from commencement date.

The widening of this national highway will give a major boost to the tourism industry there as it falls under the Buddhist circuit. It will also provide substantial economic gain in terms of reduced vehicle operating costs and reduced travel time.

Shares of the company gained Rs 1.05, or 1.94%, to settle at Rs 55.20. The total volume of shares traded was 2,052 at the BSE (Monday).