G R Infra soars after bagging LoA from Maharashtra Metro worth Rs 904 crore

G R Infraprojects jumped 4.19% to Rs 1703.40 after the company announced the receipt of a letter of acceptance (LoA) for a project valued at Rs 903.53 crore from Maharashtra Metro Rail Corporation.

The project entails designing and constructing a 17.624 km elevated metro viaduct. This includes two railway spans and a 6-lane double-decker section with a vehicular underpass (VUP) for a total length of 1.14 km. This work is part of Reach-1A of the Nagpur Metro Rail Project Phase-2.

The project has to be executed on EPC mode within a period of 30 months.

GR Infraprojects is engaged in construction of infrastructure facilities on engineering, procurement and construction (EPC) and built, operate and transfer (BOT) basis.

The company's consolidated net profit tumbled 49.83% to Rs 155.45 crore in Q1 FY25 as compared to Rs 309.84 crore recorded in corresponding quarter previous year. Revenue from operations fell 18.07% year on year (YoY) to Rs 2,030.30 crore in the quarter ended 30 June 2024.

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