G R Infra announces completion of Madhya Pradesh projects

The civil construction company on Monday announced that it has received two completion certificates for Madhya Pradesh-based projects awarded under the Bharatmala Pariyojana on EPC mode.

The scope of the first project entails construction of eight lane access‐ controlled expressway carriageway from Kamliya village to Kandarwasa village of Ratlam district to section of Delhi‐Vadodara Greenfield Alignment. The cost of the project was Rs 990.97 crore. The project's appointed date was 10 December 2019 and the scheduled completion period was 730 day from the appointed date. The revised scheduled completion date was 20 December 2022.

The subsequent project comprises construction of eight lane access‐controlled expressway carriageway from Jodmi village to Bani village of Mandsaur district section of Delhi -Vadodara Greenfield Alignment (NH‐148N). The contract price of the project stood at Rs 1,094.97 crore. The project's appointed date was 7 February 2020 and the scheduled completion period was 730 day from the appointed date. The revised scheduled completion date is 2 January 2023.

The company said that the completion certificates have been issued by the authority's engineer and the projects has been declared fit for entry into commercial operation with effect from 20 December 2022.

G R Infraprojects is an integrated road engineering, procurement and construction (EPC) company largely focused on road sector. The company has also recently diversified into projects in the railway sector.

The company's consolidated net profit rose 78.3% to Rs 336.23 crore on a 13.5% increase in sales to Rs 2,136.36 crore in Q2 FY23 over Q2 FY22.

Shares of G R Infraprojects declined 1.52% to Rs 1,113 on the BSE.

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