Hyderabad-based infrastructure firm Lanco Infratech Ltd has informed that it has received Letter of Intent (LOI) for the contract worth Rs 52.30 crore from Footwear Design & Development Institute (FDDI), Ministry of Commerce & Industry, Government of India.

The scope of work includes Construction and Development of FDDI at E-1, Sipcot Industrial Park, Irungattukottai, Kancheepuram, Tamil Nadu.

The shares of the company closed today at Rs 355 on BSE, down 4% compared to previous close of Rs 370.