G R Infraprojects rallies after emerging L-1 bidder for two projects

G R Infraprojects rose 2.19% to Rs 1481 after the EPC company announced that it has emerged as L-1 bidder for two tenders invited by National Highways Authority of India (NHAI).

The first project involves construction of four lane road of existing two lane stretch from Govindpur to Rajura in Maharashtra. The bid project cost is Rs 907 crore and the project is to be completed on hybrid annuity mode. The completion date for the project is 730 days from the date of appointment while operational period is 15 years from the commercial operation date.

The second project also involves construction of four lane road of existing two lane stretch from Bamni to MH/TG Border in the state of Maharashtra under hybrid annuity mode. The bid project cost is Rs 837 crore and the completion date is 730 days from the date of appointment. The operational period for the project will be 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 road construction company's consolidated net profit slumped 65.4% to Rs 146.44 crore on a 20% drop in net sales to Rs 1,979.70 crore in Q3 FY22 over Q3 FY21.

Powered by Capital Market - Live News