The shares of the leading infrastructure company gained up to 10 percent after the company received two letters of award from Jodhpur Vidyut Vitran Nigam Limited for solar power plants worth Rs 156 crore.
With a market capitalization of Rs 6,994.82 crore, the shares of H.G. Infra Engineering Ltd were trading at Rs 1,077.20 per share, increasing around 8.40 percent as compared to the previous closing of Rs 993.70 apiece.
According to the company filing, H.G. Infra Engineering Ltd received two letters of award from Jodhpur Vidyut Vitran Nigam Limited to Stockwell Solar Services Private Limited consortium with the company for design, survey, supply, installation, testing, commissioning, operation & maintenance of solar power plants worth Rs 156 crore.
Furthermore, the first order is worth Rs 49 crore, and another one is for Rs 107 crore; the time period for both LOAs is 12 months and 25 years for operation and maintenance from COD.
Looking into H.G. Infra Engineering Ltd’s financials, the company’s sales rose by 15%, from Rs 1,185 crore in Q3FY23 to Rs 1,365 crore in Q3FY24. During the same period, net profit declined by 22%, from Rs 131 crore to Rs 102 crore.
As of December 30, 2023, the company’s order book was at Rs 96,263 million. The business intends to boost its non-road project portfolio to 20-25 percent of its order book over the next 2-3 years.
The East Central Railway has awarded the company an Engineering, Procurement, and Construction (EPC) contract to build a double-line track in Bihar’s DDU Division. The project entails earthwork, blanketing, small and large bridges, electricity, and other miscellaneous tasks. The project totaled Rs. 709.11 crore.
H.G. Infra Engineering Limited (HGIEL) is a road infrastructure firm in India that offers EPC and maintenance services for roads, bridges, flyovers, and other infrastructure projects.
Written by:- Abhishek Singh
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