H.G. Infra Engineering rallied 4.36% to Rs 901.55 after it has been declared the L1 bidder, jointly with Kalpataru Projects International for a major metro infrastructure project awarded by the Maharashtra Metro Rail Corporation (MMRCL) in Thane.
Shares of Kalpataru Projects shed 0.59% to currently trade at Rs 1,222 on the BSE.
The companies bid as a joint venture, with HG Infra holding a 40% share and Kalpataru Projects holding 60%.
The contract entails the design and construction of a 20.527-km elevated metro viaduct between the UG ramp and Balkum Naka, along with the depot approach viaduct and three special spans under the Thane Integral Ring Metro Project.
The estimated project cost is Rs 1,424 crore, while the JV submitted a bid of Rs 1,415 crore, inclusive of all applicable taxes.
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The work will be executed on an engineering, procurement and construction (EPC) basis.
Kalpataru Projects International (KPIL) is one of the largest specialized EPC companies engaged in power transmission & distribution, buildings & factories, water supply & irrigation, railways, oil & gas pipelines, urban mobility (flyovers & metro rail), highways and airports.
H.G. Infra Engineering is an Indian road infrastructure company engaged in the business of Engineering, Procurement, and Construction (EPC) services and maintenance of roads, bridges, flyovers, and other infrastructure contract works.
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