B R Goyal Infra gains on bagging Rs 71-cr work order from NHAI

B R Goyal Infrastructure advanced 2.49% to Rs 123.50 after the company received a work order worth Rs 70.75 crore from the National Highways Authority of India (NHAI).

According to an exchange filing, NHAI has awarded a work order to the company for the engagement of a user fee collection agency through competitive bidding via e-tender for the Newadakanthi fee plaza at Design Km 405.650, located on the Aligarh-Kanpur section of National Highway 91 in Uttar Pradesh. The project covers the section from Design Km 373.085 to Km 433.728 (existing Km 356.000 to Km 414.000), which will accommodate four or more lanes.

The total accepted value of the work order is Rs 70,75,64,545 and the project is expected to be completed within one year.

B R Goyal Infrastructure is one of the leading companies specializing in the construction and development of infrastructure projects like roads, highways, bridges, and buildings. The company also helps to provide EPC services to third parties by offering them the construction of roads & highways, commercial complexes, industrial parks, housing projects, and HAM projects. The company is also engaged in wind power generation, manufacturing of ready-mix concrete (RMC), and toll collection contracts (TCC). As of 30 September 2024, the company had 402 permanent employees and 212 employees at TCCs.

The company recorded revenue from operations of Rs 155.50 crore and net profit of Rs 1.94 crore for the period as on 31 July 2024.

Shares of B R Goyal Infrastructure entered the stock exchanges on 14 January 2025. The stock was listed at 135.75, at a premium of 0.56% compared with the initial public offer (IPO) price. The stock was currently up 4.60% over its listing price.

B R Goyal Infrastructure's IPO was subscribed 109.91 times. The issue opened for bidding on 7 January 2025, and it closed on 9 January 2025. The price band of the IPO was set at Rs 128 to Rs 135 per share.

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