Infra stock engaged in the business of offering Engineering, Procurement, and Construction (EPC) services for highways, metros, railways and many more jumped 4 percent in the days upon receiving a work order worth Rs. 709 Crores from East Central Railway.
With a market capitalization of Rs. 5,900 Crores, the shares of H.G. Infra Engineering Limited were trading at Rs. 905.10, up 2.92 percent from its previous day’s close price of Rs. 879.40.
H.G. Infra Engineering Limited has been declared as the L-1 bidder for a project worth Rs. 709.11 Crores by the East Central Railway for the Construction of double line track formation including earthwork, blanketing, minor bridges, major bridges, electrification works and other miscellaneous works
The project work is going to be undertaken in the DDU division of East Central Railway in the state of Bihar and it is to be executed in 36 months.
H.G. Infra Engineering Limited is engaged in the business of offering Engineering, Procurement, and Construction (EPC) services, maintenance for roads, flyovers, bridges, and other infrastructure contract works.
As of December 2023, it has a strong order book worth Rs. 9,626.3 Crores, out of the received projects Government projects account for 73 percent and projects from private players account for 27 percent.
Its revenue from operations grew by 15.18 percent from Rs. 1185 Crores in Q3FY23 to Rs. 1,365 Crores in Q3FY24, accompanied by profits of Rs. 131 Crores to Rs. 102 Crores.
Written by: Bharath K.S
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