H.G. Infra rises on bagging solar project worth Rs 534 cr

H.G. Infra Engineering gained 2.26% to Rs 918.55 after its consortium Stockwell Solar Services received a solar project worth Rs 534 crore from Jodhpur Vidyut Vitran Nigam.

In a regulatory filing, the company said that the letter of award has been issued by Jodhpur Vidyut Vitran Nigam to Stockwell Solar Services consortium with H.G. Infra Engineering for a project of solar business.

The project involves design, survey, supply, installation, testing, commissioning, operation and maintenance of the solar power plant for 25 years.

The solar project would cost Rs 534 crore and have a total capacity of 125.72 megawatt (AC).

The deadline for the project, awarded under the Kisan Urja Suraksha Evem Utthan Mahabhiyan (KUSUM) scheme, is 12 months.

The project will be implemented by a separate entity(ies) incorporated/to be incorporated by Stockwell Solar Services and HG Infra Engineering directly or through its subsidiaries, said the firm.

H.G Infra Engineering is engaged in the business of engineering, procurement and construction (EPC), maintenance of roads, bridges, flyovers and other infrastructure contract works.

The company reported 22.03% fall in consolidated net profit to Rs 102.05 crore despite of 15.15% rise in revenue from operations to Rs 1,364.53 crore in Q3 FY24 over Q3 FY23.

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