H G Infra spurts after bagging two NHAI projects

H G Infra Engineering gained 2.84% to Rs 751.70 after the EPC company was declared as L-1 bidder by National Highways Authority of India for two HAM projects.

The scope for the first project is development of six lane Kaliagura-Baunsaguar section of NH-130-CD road under Raipur-Visakhapatnam Economics Corridor in the state of Odisha. The company's bid project cost is Rs 1,492.11 crore with a completion period of 730 days.

The second project is for development of six Lane Baunsaguar- Baraja section of NH-130 CD road under Raipur-Visakhapatnam Economics Corridor in Odisha. The company's bid project cost is Rs 1,123.11 crore with a completion period of 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 posted a 406% jump in consolidated net profit to Rs 101 crore on a 201.9% rise in net sales to Rs 941 crore in Q1 FY22 over Q1 FY21.

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