G R Infraprojects skids on cancellation of tender

G R Infraprojects fell 1.08% to Rs 1,198 after the tender for construction project of the elevated viaduct in Delhi, in which the company emerged as the lowest bidder has been cancelled by the NCRTC.

The tender was for construction of the elevated viaduct from end of the ramp at IDPL Complex to start of ramp at Rajiv Chowk and other three elevated stations, Udyog Vihar, Sector‐17 and Rajiv Chowk of Delhi‐SNB Regional Rapid Transit System (RRTS) corridor.

The order was received on 4 April 2020 and the project cost was Rs 592.17 crores. The National Capital Region Transport Corporation (NCRTC) uploaded information on e‐portal for annulment of the aforesaid project due to some administrative reasons on 29 November 2022.

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 rose 78.3% to Rs 336.23 crore on a 13.5% increase in sales to Rs 2,136.36 crore in Q2 FY23 over Q2 FY22.

Powered by Capital Market - Live News