The Gutte family-promoted engineering and construction major Sunil Hitech Engineers Ltd (SHEL) has received a Letter of Award (LoA) from National Highways Authority of India (NHAI) for a project worth Rs 982 crore in Maharashtra.

According to a company filing, the project includes construction and widening of the existing 2-lane Bodhre to Dhule road section of NH-211 to four/six lane configuration on Hybrid annuity Model (HAM). The construction of the 67.2 km road also includes 2 new ROBs, 6 underpasses, 4 major bridges, 26 minor bridges and 2 new bypasses. The construction period for the project is 2.5 years and the company will sign the Concession Agreement soon, it added.

Sunil Gutte, Managing Director of Sunil Hitech Engineers Ltd, said, “this is one of the major projects awarded to the company in the road sector and is in line with the company’s vision to be a major player in the road sector. This order further showcases the steps the company is taking to step up business in other infrastructure verticals such as roads and building construction apart from power related works and diversify our order book and is a major milestone on our way to become an infrastructure conglomerate.”

Shares of the company surged more than 9% and hit a week-high of Rs 12.14 intraday Thursday on BSE after the announcement came in. At 2.07 pm, the Re 1 face value shares were trading at Rs 12, up 8.21% from the previous closing of Rs 11.09.

here is company details.

 

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