IRB Infrastructure Developers (IRB), India's leading and the largest highways infrastructure developers bagged its third successive project from NHAI under Hybrid Annuity Model (HAM) in the state of Gujarat.

The company emerged as a preferred bidder for construction of eight lanes on the Vadodara-Mumbai Expressway in the Gujarat, on the stretch having length of 23.740 Kms at the cost of Rs 20.43 billion. 

Virendra D. Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers, said, ''We are happy to see the Company being awarded with third successive project under Hybrid Annuity in a week’s time. This has once again acknowledged the high trust and confidence in our domain expertise, rich experience and execution capabilities demonstrated over last two decades.''   

Shares of the company gained Rs 1.05, or 0.48%, to trade at  Rs 220.95.  The total volume of shares traded  was  8,691 at the BSE (9.32 a.m., Monday).