Maytas Infra bags Rs 790 cr ITNL project

Infrastructure development firm Maytas Infra on Thursday said it has bagged an order worth Rs 790 crore (Rs 7.9 billion) from IL&FS Transportation Networks Ltd (ITNL) for road construction work.

The company has been awarded the Pune-Sholapur road contract worth Rs 790 crore, Maytas Infra said in a filing to the Bombay Stock Exchange.

The project is to be completed in a period of 20 months. "Through this project, we envisage assisting our client in building and providing a quality infrastructure link

between the two important cities of Maharashtra and contribute to its economic growth," Maytas Infra president Chander Sheel Bansal said. Maytas Infra Ltd had submitted its offer to ITNL in October 2009.

"This contract will go a long way in boosting the image of Maytas Infra in the market and restoring the confidence among its stakeholders," the filing added.

Shares of Maytas Infra were trading at Rs 145.80 on the BSE, up 2.42 per cent from its previous close.