Sadbhav Infra Starts Tolling On Bhilwara-Rajasamand Highway, Shares Up

Sadbhav Infrastructure Project shares surged over 10 per cent after the road construction company said that it has received provisional completion certificate for the Bhilwara-Rajasamand tollway in Rajasthan. 

Following the approval, Sadbhav Infrastructure Project has started collecting toll for on Bhilwara-Rajasamand highway with effect from June 4, the company said. 

"For the first year depending upon the current traffic, we are estimating that we will be able to collect between Rs 40-Rs 44 crore per year...this will grow depending upon traffic growth as well as hike in the toll rate as per the formula prescribed in the concession agreement," said Nitin Patel, director at Sadbhav Infrastructure. (Watch)

The concession period for toll collection is 30 years, which will end on October 8, 2043. 

The four-laning of Rajsamand-Bhilwara section of NH-758 was awarded by National Highways Authority of India (NHAI) in October 2013. The total cost of the project was Rs 676 crore out of which Sadbhav Infrastructure Project got a grant of Rs 266 crore from NHAI. 

Sadbhav Infrastructure had taken a term loan of Rs 276 crore to complete the project, which is to be repaid by September 2031. 

Sadbhav Infrastructure Project shares closed 5.37 per cent higher at Rs 102.05 apiece compared to 0.47 per cent fall in the broader Sensex.