Share price of this infra stock jumped by nearly 2.7% on NSE to Rs. 927.85 in the morning trading session of March 13th, from its previous close of Rs. 903.5, after the company announced receiving a Letter of Acceptance from East Central Railway.
With a market capitalisation of Rs. 5,816.2 crores, in the last one year, HG Infra Engineering Limited has delivered about 16.7 percent of positive returns and nearly 4.8 percent of returns, so far in 2024. However, it has given around 6.8 percent of negative returns in the last six months.
According to recent regulatory filings with the stock exchanges, H.G. Infra Engineering Limited received a letter of acceptance from the East Central Railway for Engineering, Procurement and Construction (EPC).
The project involves the construction of double-line track formation in the DDU Division of East Central Railway in the state of Bihar, which includes earthwork, blanketing, minor & major bridges, electrification and other miscellaneous works.
The project is valued at Rs. 709.11 crores for a total track length of 66.88 kilometres, with a 36-month construction timeframe.
In terms of financials, the company’s revenue from operations grew by 42.93 percent QoQ from Rs. 955 crore in Q2 FY23-24 to Rs. 1,365 crore in Q3 FY23-24, accompanied by an increase in net profit of 6.25 percent from Rs. 96 crore in Q2 FY23-24 to Rs. 102 crore in Q3 FY23-24.
As of December 2023, FIIs hold 1.56 percent of the shares, whereas DIIs hold 12.45 percent of the shares in the company, aggregating to 14.01 percent of the institutional holdings.
With more than 21 years of expertise in roads and highways, H.G. Infra Engineering Limited is a leading infrastructure development company.
Established in 2003, the company provides engineering, procurement and construction (EPC) services on a turnkey basis and HAM (Hybrid Annuity Model), focusing on civil construction and related infrastructure projects.
Written by Shivani Singh
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