G R Infraprojects receives LoA for construction project worth Rs 365 crore

G R Infraprojects said that it has received letter of acceptance (LoA) from Bangalore Metro Rail Corporation for a construction project worth Rs 364.87 crore.

The project involves construction of 5 metro stations, elevated structures, road widening and allied works. The project is to be completed in 21 months from signing of contract agreement.

The announcement was made after market hours yesterday, 3 August 2021.

G R Infraprojects (GRIL) 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.

The company reported a consolidated net profit of Rs 953.22 crore and sales of Rs 7,844.13 crore in the year ended 31 March 2021.

The scrip shed 0.96% to currently trade at Rs 1715.70 on the BSE.

Shares of G R Infraprojects debuted on the bourses on 19 July 2021 at a price of Rs 1700 per share, at a premium of 103.11% to the issue price of Rs 837 per share.

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