H.G. Infra Engineering rallied 4.92% to Rs 603.85 after the company said that it has received letter of award (LoA) from the National Highways Authority of lndia (NHAI) for a hybrid annuity model (HAM) project in the state of Haryana.
The scope of the project entails construction of 6-lane Greenfield Karnal Ring Road starting from NH44 near Village Shamgarh and terminating at Karnal -Munak Road (MDR-115) near Village Samalakha under Bharatmala Pariyojana in Haryana.
NHAI's estimated cost of the project is Rs 743.74 crore and the company's bid project cost is Rs 997.11 crore. The completion period is 730 days.
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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