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ITNL
UNRATED (RS204, MCAP: RS40BN / US$878M)
• ITNL is a leading road BOT player in the country with a portfolio of 22 road projects totaling ~12,000 lane km. It has
also forayed in other transportation sectors like metro rail, city bus services, border check posts and airports.
• It currently has 4000 lane km of commissioned projects and also operates a bus transportation project in Nagpur.
• Construction of the Gurgaon Metro project (4.8km link connecting Delhi Metro Sikanderpur station with DLF Cyber
City) commenced recently. The project cost is Rs11bn, with a concession period of 99 years. ITNL has ~54% stake in
the project, which is likely to be commissioned in 2012.
• ITNL is also developing two regional airports, Gulbarga and Shimoga, awarded by the Karnataka Government (ITNL
stake, 40%). The total cost of the projects is ~Rs4bn, with a concession period of 30 years. The projects have ~300 acres
of land available at each location for real estate development.
• The company is also exploring opportunities in automatic multi-level parking systems.
• ITNL bagged BOT projects worth Rs76.3bn to date in FY11 and is a L1/ preferred bidder in Rs113bn worth of projects.
• The company had an unexecuted order backlog of Rs135bn (including L1 orders of Rs15bn) as of 31 October 2010.
• The company has indicated that there are ~1000km road BOT projects from NHAI that are in the price bidding stage.
These projects are likely to be awarded by March 2011.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
ITNL
UNRATED (RS204, MCAP: RS40BN / US$878M)
• ITNL is a leading road BOT player in the country with a portfolio of 22 road projects totaling ~12,000 lane km. It has
also forayed in other transportation sectors like metro rail, city bus services, border check posts and airports.
• It currently has 4000 lane km of commissioned projects and also operates a bus transportation project in Nagpur.
• Construction of the Gurgaon Metro project (4.8km link connecting Delhi Metro Sikanderpur station with DLF Cyber
City) commenced recently. The project cost is Rs11bn, with a concession period of 99 years. ITNL has ~54% stake in
the project, which is likely to be commissioned in 2012.
• ITNL is also developing two regional airports, Gulbarga and Shimoga, awarded by the Karnataka Government (ITNL
stake, 40%). The total cost of the projects is ~Rs4bn, with a concession period of 30 years. The projects have ~300 acres
of land available at each location for real estate development.
• The company is also exploring opportunities in automatic multi-level parking systems.
• ITNL bagged BOT projects worth Rs76.3bn to date in FY11 and is a L1/ preferred bidder in Rs113bn worth of projects.
• The company had an unexecuted order backlog of Rs135bn (including L1 orders of Rs15bn) as of 31 October 2010.
• The company has indicated that there are ~1000km road BOT projects from NHAI that are in the price bidding stage.
These projects are likely to be awarded by March 2011.
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