GR Infraprojects gains 5% on bagging order worth Rs 1,886 cr from MSRDC

GR Infraprojects in focus: Shares of infrastructure company GR Infraprojects surged as much as 4.74 per cent to hit an intraday high of Rs 1,699 per share on Wednesday, September 24, 2024.

However, at 10:18 AM, shares were off highs and were trading 1.56 per cent higher at Rs 1,647.40 per share. In comparison, Sensex was trading flat at 81,836.21 levels. 

The uptick in the share price of GR Infraprojects came after the company announced that it has secured an order worth Rs 1,885.63 crore from Maharashtra State Road Development Corporation Limited.

In an exchange filing, GR Infraprojects said, “We are pleased to inform you that our Company has received today the Letter of Acceptance dated October 14, 2024 from Maharashtra State Road Development Corporation Limited.”

Under the terms of order, GR Infraprojects will be responsible Construction of Access Controlled Pune Ring Road in Pune District Package PRR W5 from village Kalyan/Rathwade Km. 55+500 to village Shivare/Kusgaon Phase Km. 64+841 (Length – 9.341 Km.) Tq. Haveli / Bhor in the State of Maharashtra on EPC Mode.

The project, meanwhile, is expected to be completed in 36 months, the company said.   

Founded in 1995, GR Infraprojects Ltd is a leading integrated Engineering, Procurement, and Construction (EPC) firm specialising in road infrastructure. 

With a strong track record, the company has designed and constructed over 100 road projects across 16 states in India. 

The company's core business, which constitutes approximately 90 per cent of its revenue, encompasses EPC, Build-Operate-Transfer (BOT), and Hybrid Annuity Model (HAM) projects primarily in the road sector. In addition to road construction, GR Infraprojects is also involved in railway, metro, airport runway, and Optical Fibre Cable (OFC) projects.

The company's diversification strategy has led it into the Power Transmission sector. GR Infraprojects currently manages a portfolio of 10 operational assets, including one National Highways Authority of India (NHAI) annuity project, one state HAM project, and eight additional NHAI HAM projects.

The total market capitalisation of the company is Rs 15,956.62 crore, according to BSE.

The 52-week high of the stock is Rs 1,859.95 while its 52-week low is Rs 1,025 apiece.