G R Infraprojects receives LoA for road construction project in Punjab

G R Infraprojects in a regulatory filing on Thursday announced that it has received a Letter of Award (LoA) for new project from National Highways Authority of India in the state of Punjab.

The scope of the project is Development of six lane Amritsar-Bathinda Greenfield section of NH-754A from Tiba village to junction with Moga Jalandhar road near Dharamkot. The project is a part of Amritsar-Jamnagar Economic Corridor in the state of Punjab to be completed under Hybrid Annuity Mode under Bharatmala Pariyojana Phase-1.

The bid project cost is Rs 927 crore while the completion period is 730 days. The operation period for the project is 15 years from commercial operation date.

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.

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. It posted a consolidated net profit of Rs 221.27 crore and net sales of Rs 2,264.48 crore in Q1 FY22.

Shares of the EPC company were trading 0.72% lower at Rs 1,934.60 on BSE.

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