H.G. Infra Engg jumps after bagging contract worth Rs 781 cr from MoRTH

H.G. Infra Engineering rallied 3.90% to Rs 1,518.50 after the company announced that it has received the letter of award (LoA) from the Ministry of Road Transport & Highways (MoRTH) for upgrading the existing road in Gujarat.

The contract involves up-gradation of existing 6 lane road of 10.630 km stretch of National Highway 47 (NH-47) from Narol to Sarkhej junctions in Gujarat on Hybrid annuity mode (HAM).

The project is worth Rs 781.11 crore and it is expected to be completed within a 2.5 years construction period.

In 20 August 2024, the company has been declared as L-l bidder by the ministry of road transport and highways for the above road upgrade project in Gujarat.

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 8.1% to Rs 162.57 crore in Q1 FY25 as compared with Rs 150.39 crore in Q1 FY24. Net sales jumped 13.1% YoY to Rs 1,528.04 crore in Q1 FY25

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