G R Infra gains on emerging L-1 bidder for project in Madhya Pradesh

G R Infraprojects rose 1.03% to Rs 1450.80 after the company said it emerged as L-1 bidder for a project in Rajgarh SEZ in Madhya Pradesh.

G R Infraprojects has emerged as L-1 bidder to establish "transmission system for evacuation of power from RE Projects in Rajgarh (2500 MW) SEZ in Madhya Pradesh" through tariff based competitive bidding (TBCB) process. The project is on build own operate and maintain (BOOM) basis.

REC Power Development and Consultancy (formerly REC Power Distribution Company), the Bid Process Coordinator (BPC) has conducted e-reverse auction on 10th March 2022 for selection of Transmission Service Provider (TSP) on the basis of international competitive bidding in accordance with the "Tariff Based Competitive Bidding Guidelines for Transmission Service" and "Guidelines for Encouraging Competition in Development of Transmission Projects".

The responsibility of the TSP would be to establish the Transmission System comprises of 400/220kV Substation at Rajgarh and 400kV Double Circuit Transmission Line in Madhya Pradesh.

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

On a consolidated basis, net profit of G R Infraprojects declined 65.63% to Rs 145.48 crore on 19.97% decline in net sales to Rs 1979.70 crore in Q3 December 2021 over Q3 December 2020.

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