H.G. Infra edges higher being declared as L-1 bidder for Rs 763 crore in Uttar Pradesh

H.G. Infra Engineering added 3.75% to Rs 1702.60 after the company said that it has declared as L-l bidder by the Ministry of Road Transport and Highways (MORTH) for a project worth Rs 763.11 crore.

The scope of the project involves Improvement and up-gradation in two lane with paved shoulders configuration of newly declared NH 227B Bahuvan Madar Majha to Jagarnathpur (Design Km 160.200 to Km 224.040) 84 Kosi Parikrama Marg in the State of Uttar Pradesh on Hybrid Annuity Mode Package VI.

The project involves improving and upgrading a 2-lane stretch of NH-1227B, known as the "84 Kosi Parikrama Marg," from Bahuvan Madar Majha to Jagarnathpur in Uttar Pradesh. This project will be executed under the hybrid annuity mode (HAM). The construction period for this project is 2 years.

MORTHs estimated project cost was Rs 898.5 crore while HG Infras project bid cost was Rs 763.11 crore.

H G Infra Engineering is primarily involved in the construction of roads and highways in Odisha, Telangana, Rajasthan, Delhi, Andhra Pradesh, Haryana, and Uttar Pradesh. HGIEL is accredited AA class by the Public Works Department (PWD) of the Government of Rajasthan (GoR) and is registered as an SS class contractor by the Military Engineer Services (MES).

The companys consolidated net profit jumped 11.2% to Rs 190.03 crore in Q4 FY24 as compared with Rs 170.93 crore in Q4 FY23. Revenue from operations increased 11.3% YoY to Rs 1,708.26 crore in Q4 FY24.

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