G R Infra gains on emerging highest bidder for Rs 758 cr project in MP

G R Infraprojects rose 1.97% to Rs 1,088.65 after the civil construction company announced that it has been emerged as highest bidder for a tender invited by National Highways Logistics Management.

The scope of the project entails development, operation and maintenance of Multi Modal Logistics Park (MMLP) Indore near Pithampur, in Dhar district in Madhya Pradesh through public private partnership on design, build, finance, operate and transfer (DBFOT) basis.

The authority's estimated project cost is Rs 758.10 crore. The construction period is 2 years from appointed date and the operation period is 45 years (including the construction period) from the appointed date.

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 zoomed to Rs 323.65 crore in the quarter ended December 2022 as against Rs 145.48 crore during the previous quarter ended December 2021. Sales rose 12.10% YoY to Rs 2,191.88 crore in Q3 FY23.

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