H.G. Infra Engineering jumped 11.17% to Rs 791.50 after the company received the Letter of Award (LOA) from National Highways Authority of India (NHAI) for two HAM projects.
The first project involves development of six lane of 44 kms in length on Kaliagura-Baunsaguar Section of NH- 130-CD Road under the Raipur-Visakhapatnam Economics Corridor in the state of Odisha on Hybrid Annuity Mode (HAM). NHAI's bid project cost is Rs 1,338.27 crore and the company's bid project cost is Rs 1,492.11 crore. The completion period is 730 days.
The second project involves development of six lane of 45.50 kms in length on Baunsaguar-Baraja Section of NH- 130-CD Road under the Raipur-Visakhapatnam Economics Corridor in the state of Odisha on Hybrid Annuity Mode (HAM). NHAI's bid project cost is Rs 958.98 crore and the company's bid project cost is Rs 1,123.11 crore. The completion period is 730 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.
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