IVRCL Infrastructures & Projects (IVRCL) announced that it has pocketed a Rs 750-crore road project in the state of Maharashtra.

Construction and Infrastructure major said that the order is for 4 laning and up-gradation of Karanji - Wani - Ghuggus - Chandrapur Road, Maharashtra State Highway- 6 & 7 in Yavatmal and Chandrapur region on DBFOT basis.

The state administration shall offer up a viability gap funding of Rs 2.32 billion.

As per reports, the said order is projected to be finished by the next 2 year.

In addition, the company's board has announced a dividend of Rs 0.80 paise per equity share of Rs 2 each at 40% for the 12 month period ended March 31, 2010.

The company is also eyeing to raise the borrowing limit to Rs 85 billion as against Rs 75 billion.

The company has also bagged a deal for up-gradation of Sion-Panvel Special State Highway under BOT from BARC Junction to Kalamboli Junction.

At 03:38 p. m., the stock of the company gained 1.8% to trade at Rs 169.40 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 212.40 and a low of Rs 147.25 on BSE.

Current EPS & P/E ratio stood at 7.79 and 21.75 respectively.