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Welspun Enterprises has emerged as the lowest bidder for an NHAI project in Tamil Nadu – four-laning of the Sattanathapuram to Nagapattinam section - at ₹1,837 crore. However, the company has not received any formal communication from NHAI, it said in a statement. Analysts will monitor the development. Welspun had reported profits of ₹34.44 crore and ₹43.27 crore and revenues of ₹273.41 crore and ₹327.68 crore for Q3 (FY18) and FY17, respectively.
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