Share price of the leading infrastructure development company moved up by 4.6 percent to Rs. 949.95 on Monday, compared to its previous closing price of Rs. 908.1, after the company received a Letter of Acceptance from the National Highways Authority of India (NHAI).
With a market cap of Rs. 6,027.3 crores, at 11:55 a.m. the shares of HG Infra Engineering Limited were trading in the green at Rs. 924.7 on NSE, up by 1.8 percent.
The company has delivered nearly 20.94 percent of returns in the last one year and around 8.96 percent of positive returns, so far in 2024. However, it has delivered about 6.98 percent of negative returns in the last six months.
According to the recent filings on the stock exchanges, H.G. Infra Engineering Limited has received a letter of acceptance from the National Highways Authority of India (NHAI) for a project valued at Rs. 610.11 crore.
The project aims to construct the 4 Lane Elevated corridor on the EPC mode in the state of Jharkhand, connecting Kalimandir – Dimna Chowk – Baliguma (Jamshedpur), with a construction period of 30 months.
Before this, the company was also declared as an L-1 bidder by the National Highways Authority of India (NHAI) for a project involving Access Controlled Highway of 4 Lane & 6 Lane with Paved Shoulders on Hybrid Annuity Mode (HAM).
The estimated cost for this project by NHAI is Rs. 943.99 crore, whereas the bid project cost by HG Infra is Rs. 862.11 crore.
In terms of financials, the revenue from operations of Torrent Power 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.
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), with a focus on civil construction and related infrastructure projects.
Written by Shivani Singh
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