The company made this announcement during trading hours today, 31 May 2012.

Meanwhile, the BSE Sensex was down 159.06 points or 0.98% to 16,153.09.

On BSE, 29,000 shares were traded in the counter as against average daily volume of 14,392 shares in the past one quarter.

The stock hit a high of Rs 186.45 and a low of Rs 170.45 so far during the day. The stock had hit a 52-week high of Rs 230.50 on 19 July 2011. The stock had hit a record low of Rs 143.10 on 2 January 2012.

The stock had underperformed the market over the past one month till 30 May 2012, falling 9.5% compared with the Sensex's 5.81% fall. The scrip had also underperformed the market in past one quarter, declining 11.52% as against Sensex's 8.11% decline.

The mid-cap firm has equity capital of Rs 194.27 crore. Face value per share is Rs 10.

The consortium comprising of IL&FS Transportation Networks and its subsidiary, Futurcage Infrastructure India had been mandated with the project for undertaking the development of an Integrated Multi level Automatic Car parking facility at Khilwat, Hyderabad by the Greater Hyderabad Municipal Corporation (GHMC), Hyderabad.

The concession period for the project is 30 years which includes a construction period of 2 years. The project involves construction and development of an automated car parking along with real estate portion. The revenue to the project shall accrue from parking fee and leasing of retail space during the concession Period, IL&FS Transportation said.

The concession agreement for the project has been signed on 25 May 2012 between GHMC and Charminar RoboPark, the special purpose vehicle (SPV) incorporated by the company for undertaking the project, IL&FS Transportation said.

IL&FS Transportation Networks' consolidated net profit rose 11.4% to Rs 177.32 crore on 19.9% growth in net sales to Rs 1988.69 crore in Q4 March 2012 over Q4 March 2011. Consolidated net profit rose 14.8% to Rs 496.96 crore on 38.5% growth in net sales to Rs 5605.62 crore in the year ended 31 March 2012 over the year ended 31 March 2011.

IL&FS Transportation Networks is one of the largest private sector road operators in India. The company is engaged in the development, operation, and maintenance of national and state highways, roads, flyovers and bridges primarily in India.