G R Infra rises after JV emerges as L-1 bidder for Rs 3,637.12 cr project in Arunachal Pradesh

G R Infraprojects rallied 3.45% to Rs 1,002.40 after Dibang Power consortium, a joint venture between the company and Patel Engineering, has emerged as lowest bidder (L-1) for construction of civil works project in Arunachal Pradesh.

The construction of civil works for LOT‐4 comprises head race tunnels including intake, pressure shafts, penstocks, power house & transformer cavern, tail race tunnels, pothead yard, adits etc. for Dibang Multipurpose project 2,880 megawatt (MW) (12 X 240 MW) in Arunachal Pradesh.

The bid project cost is Rs 3,637.12 crore and the share of GR Infraprojects in the contract is 50%. The completion period of the contruction project is 86 months.

Meanwhile, the civil construction company announced that it has emerged as L‐1 bidder for the tender invited by National Highways Authority of India (NHAI) for a road project amounting to Rs 872.17 crore in Maharashtra.

The scope of the project involves six laning of Surat-Nashik-Ahmednagar-Solapur-MH/KNT Border Greenfield stretch [Package-XIV from Hasapur to Badadal] in the state of Maharashtra that is to be executed on hybrid annuity mode under Bharatmala Pariyojana.

The bid project cost is Rs 872.17 crore. The project is expected to be completed in 730 days from appointed date and the operation period is 15 years from the commercial operation 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. Net sale rose 12.10% YoY to Rs 2,191.88 crore in Q3 FY23.

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