H.G. Infra declared as L-1 bidder by PWD Rajasthan for Rs 448-cr project

H.G. Infra Engineering said that it has been declared as the lower (L-1) bidder by Public Works Department (PWD), Rajasthan for a road project.

The project involves development and maintenance of Bewar Masuda Goyala section of SH-26A, Arian Sarwar section of SH-7E and NH-12, and Laxmipura Dora Dabi Ranaji ka Gudha Section of SH-115 under public private partnership (PPP) mode. The total length to be constructed is 160.63 kms and is to be built under the design, build, operate and transfer (DBOT) on hybrid annuity model (HAM) basis.

PWD's estimated project cost is Rs 394.56 crore while HG Infra's bid project cost is Rs 448.11 crore. The project is to be completed within 550 days.

H G Infra Engineering is an infrastructure construction, development and management company. The main business includes providing engineering-procurement-and-construction (EPC) services on a fixed-sum turnkey basis and undertaking civil construction and related infrastructure projects.

The company's consolidated net profit surged to Rs 101.02 crore in Q1 FY22 from Rs 19.93 crore in Q1 FY21. Net sales jumped to Rs 941.40 crore in the quarter ended June 2021 as against Rs 311.87 crore during the previous quarter ended June 2020.

The scrip rose 0.80% to currently trade at Rs 603.10 on the BSE.

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