GR Infra shares gain 5% on ₹2,440 crore project win; outperforms market

Shares of GR Infraprojects Ltd. rose over 5 per cent on Thursday after the company emerged as the L1 bidder for a ₹2,440.87 crore project in Bihar, awarded by National Highways Authority of India. 

 

The company's stock rose as much as 5.1 per cent during the day to ₹973.1 per share, the steepest intraday gain since March 6 this year. The stock pared gains to trade 2 per cent higher at ₹938 apiece, compared to a 1.8 per cent decline in Nifty 50 as of 09:25 AM. 

 

Shares of the company rose for the third straight session and currently trade at 2.6 times the average 30-day trading volume, according to Bloomberg. The counter has fallen 6.5 per cent this year, compared to a 10.7 per cent decline in the benchmark Nifty 50. GR Infra has a total market capitalisation of ₹9,272.56 crore.  

 

GR Infra emerges lowest bidder for NHAI project

GR Infraprojects said it has emerged as the lowest (L1) bidder for a highway project awarded by the National Highways Authority of India (NHAI).

 

The project involves the construction of a four-lane greenfield section of National Highway-33 from Mokama to Munger in Bihar under the Hybrid Annuity Mode, according to an exchange filing. The contract is valued at ₹ 2,440.87 crore, and the project is to be completed within 910 days from the appointed date.

 

Last month, the company said it bagged ₹1,897.51-crore order for the construction of a new railway line from Km 124/400 to Km 165/380 between Bahari & Gondawali stations as part of the Sidhi-Singrauli new rail link project in Madhya Pradesh.

 

GR Infraprojects is engaged in the construction of infrastructure facilities on an engineering, procurement, and construction (EPC) and build, operate, and transfer (BOT) basis.

GR Infra Q3 and outlook

The company reported a 37.70 per cent year-on-year (Y-o-Y) increase in standalone net profit to ₹232.15 crore for the quarter ended December 31, 2025, compared with ₹168.59 crore in the year-ago period. Revenue from operations climbed 35.91 per cent to ₹2,039.49 crore during the quarter.

 

On a segmental basis, revenue from build, operate, and transfer (BOT) and annuity projects declined 6.50 per cent Y-o-Y to ₹1,245.75 crore. In contrast, revenue from the engineering, procurement, and construction segment surged 342.76 per cent to ₹920.56 crore.

 

Last month, analysts at Ambit Institutional Equities said that India's road construction sector is moving out of a trough marked by slow tendering and intense competition into a recovery phase led by structural reforms. Within the sector, Ambit said its framework favours GR Infraprojects, citing superior diversification, large scale, a strong executable order book of about 2.7 times revenue and lean working capital of 47 days. 

 

Ambit’s stock preference remains GR Infraprojects (target price: ₹1,324) over PNC Infratech (target price: ₹309), both rated 'Buy', while maintaining a 'Sell' stance on KNR Constructions (target price: ₹146).

 

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