H.G. Infra spurts on bagging appointed date letter for project in UP

H.G. Infra Engineering rallied 4.24% to Rs 598.10 after the EPC company announced that it has received the appointed date letter from Adani Road Transport for a road project in Uttar Pradesh.

The company has received a letter from Adani Road Transport regarding declaration of appointed date as 3 November 2022, by Authority for the project in Uttar Pradesh.

The scope of the project entails execution of civil & associated works on engineering procurement & construction (EPC) basis for development of an access, controlled (expandable to eight lane Greenfield Ganga Expressway (Group-II) from Nagla Barah, Badaun to Ubariya Khurd, Hardoi, in the state of Uttar Pradesh on design, build, finance, operate and transfer (DBFOT) (Toll) basis under public-private partnership (PPP).

The contract price of the project is Rs 4,970.99 crore and the completion period is 820 days from the appointed date.

H.G. Infra Engineering is primarily engaged in the business of engineering, procurement, and construction (EPC) relating to roads, bridges, flyovers, and infrastructure contract works and related activities.

The company's consolidated net profit rose 10% to Rs 81.93 crore on 1.3% increase in net sales to Rs 795.70 crore in Q2 FY23 over Q2 FY22.

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