Larsen & Toubro (L&T), the engineering and infrastructure major, has bagged the Hyderabad Metro Rail (HMR) project. The contract involves developing a 71 km metro rail network along the main roads of
Though the state government is yet to make a formal announcement on award of the project, L&T officials confirmed that they had given the order for the project. The HMR contract was originally given to Maytas Infra, a company promoted by the family members of the disgraced founder of Satyam B Ramalinga Raju.
However, with Raju confessing to an accounting scam in the IT company, Maytas too suffered collateral damage, forcing it to default on various milestones. The state government then cancelled the bid and called for fresh bids.
There were eight players vying for the project initially. By the last date for submission of financial bids, only three completed the formalities. Of these, L&T’s bid was the lowest. The primary parameter for selecting the winning bid was the viability gap funding (VGF) sought from the government.
For the project, the Centre had allowed Rs 4,853 crore VGF. According to sources, L&T sought Rs 1,450 crore VGF to emerge the winner. A consortium of
The consortia which were prequalified were L&T, Lanco-OHL Spain, Anil Dhirubhai Ambani Group,
| Company Name | CMP |
|---|---|
| Larsen & Toubro | 3630.60 |
| Rail Vikas Nigam | 433.00 |
| NCC | 287.25 |
| KEC International | 1232.00 |
| Kalpataru Projects | 1275.40 |
| View more.. | |
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The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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