H.G. Infra Engg gains on emerging as qualified bidder for Gujarat battery storage project

H.G. Infra Engineering advanced 2.26% to Rs 1,165.50 after the company announced that it had been declared a qualified bidder for a major battery energy storage project in Gujarat.

In a regulatory filing, the company stated that Gujarat Urja Vikas Nigam (GUVNL) has declared it as a qualified bidder for 300 MW/600 MWh capacity out of the total 500 MW/1000 MWh project. The initiative involves setting up Standalone Battery Energy Storage Systems (BESS) under Phase-VI of GUVNLs Tariff-Based Global Competitive Bidding process.

The project is expected to be executed over a period of 24 months.

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 increased 12.9% to Rs 115.18 crore in Q3 FY25 as compared with Rs 102.05 crore in Q3 FY24. Revenue from operations declined 7.3% YoY to Rs 1,264.84 crore in the December 2024 quarter.

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