Pratibha Industries secures annuity project from NHAI
Moneylife Digital Team 09 July 2010

Mumbai-based Pratibha Industries Ltd said its joint venture with Lucknow-based Abhyudaya Housing and Construction Pvt Ltd, has won an annuity project from National Highways Authority of India (NHAI). The total revenues receivable from NHAI is Rs336.70 crore, the company said in a regulatory filing.

The project involves two laning of Bhopal-Sanchi section of NH 86. The project is to be executed on built, operate and transfer (BOT) basis on design, build, finance and operate (DBFO) pattern under National Highways Development Project (NHDP) phase III. The construction period is two years and payments would be done through semi-annual annuities of Rs12.95 crore for 13 years totalling to Rs336.70 crore.

On Friday, Pratibha Industries shares closed 0.1% down at Rs409 on the Bombay Stock Exchange, while the Sensex ended at 1% up at 17,833 points.

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