G R Infraprojects completes two projects in Punjab, one in Uttar Pradesh

The wholly owned subsidiaries of G R Infraprojects, namely, GR Amritsar Bathinda Highway and GR Ludhiana Rupnagar Highway have executed a concession agreement with the National Highways Authority of India (NHAI) on Tuesday, 14 December 2021.

The wholly owned subsidiaries of G R Infraprojects, GR Amritsar Bathinda Highway and GR Ludhiana Rupnagar Highway have incurred a bid project cost of Rs 927 crore and Rs 951 crore respectively on a Hybrid Annuity Mode (HAM) basis. The projects are expected to be completed 730 days from the appointed date and will remain operational for 15 years from the commercial operation date.

Additionally, G R Infraprojects has also provisionally completed the project on 'Development of Purvanchal Expressway (Package-IV) from Sidhi Ganeshpur (Dist. Sultanpur) to Sansarpur (Dist. Sultanpur) km 121+600 to km 164+300 in the state of Uttar Pradesh on EPC basis.' The provisional completion certificate has been issued by an independent engineer on 7 December 2021 and declared fit for entry into commercial operation with effect from 8 November 2021. The contract price of the project stood at Rs 1,497 crore.

G R Infraprojects' consolidated net profit rose 9.6% to Rs 188.60 crore on a 48.2% surge in net sales to Rs 1,882.38 crore in Q2 FY22 over Q2 FY21.

Shares of G R Infraprojects rose 0.24% to Rs 1,718.55 on BSE. 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.

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