Welspun Enterprises stock zooms 6% on receiving provisional certificate for commercial operation of NHAI project

1 Apr 2022 , 01:05 PM

Welspun Enterprises Ltd has informed the receipt of the Provisional Certificate for Commercial Operation (“PCOD”) effective March 31, 2022, from National Highways Authority of India (“NHAI”) for a length of 53.763 km (77.96%) out of total project length of 68.960 km, in respect of 8- laning of section of NH-1 (New NH-44) from Mukarba Chowk to Panipat on BOT (Toll) Basis.

With this, Welspun Infrafacility Private Limited (“SPV”), a wholly-owned subsidiary of the Company is entitled to collect toll on this BOT (Toll) Project.

Out of the Company’s total HAM road portfolio of 7 projects of around Rs10,000 crore, 5 projects of Rs6,300 crore had earlier achieved PCOD/COD. With the PCOD of this BOT (Toll) project, a total of 6 projects (of Rs8,500 crore), in the Company’s overall road portfolio of over Rs12,000 crore, are now revenue-generating, said company in a regulatory filing on Friday.

At around 1:08 PM, Welspun Enterprises was trading at Rs77.35 apiece up by Rs4.4 or 6.03% on the BSE.