Hazoor Multi Projects hits upper circuit on winning Rs 1,130 crore NH-66 upgrade contract

Hazoor Multi Projects witnessed a surge, with its share price hitting the 10 percent upper circuit in early trade on November 24, propelled by the acquisition of orders valued at Rs 1,130 crore. The company secured the contract for the upgrade and rehabilitation of a section of NH-66 in Ratnagiri.

Hazoor Infra Projects Private Limited, a wholly-owned subsidiary company and the new concessionaire, received the project endorsement from Arawali Kante Multi Projects Private Limited, the substituted concessionaire. The road transport ministry has authorized this venture for the rehabilitation and upgradation of NH-66 (formerly NH-17) from 241/300 km to 281/300 km, specifically the Arawali to Kante section, transforming it into a four-lane highway in Maharashtra under NHDP-IV on Hybrid Annuity mode in Ratnagiri district, as stated in the company’s press release.

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The project is estimated to be worth approximately Rs 1,129.81 crore, with annuities accounting for Rs 523 crore, interest on annuities at Rs 463 crore, and operation and maintenance costs at Rs 143 crore. As of 10:18 am, the company’s shares were trading at ₹151.70, marking a substantial 9.97% increase.