The share price of the leading infrastructure company rose 3.7 percent to Rs 1,173.55 per share on Tuesday’s early trade after the company received a work order of Rs 42 crore.
At 11:25 a.m., G R Infraprojects Ltd was quoted at Rs 1,126.15 per share, down 0.45 percent on the national stock exchange The company has a market capitalization of Rs 10,902 crore.
G R Infraprojects Limited has received a Letter of Intent from REC Power Development and Consultancy Limited for a transmission system for the Evacuation of Power from RE Projects in Rajgarh SEZ in Madhya Pradesh‐ Phase II.
For the aforementioned order, the company received an order value of Rs 419.74 million and the period for project completion is within 24 months. The company reported in its exchange filing.
The company’s revenue has reduced by 12 percent from Rs 2,136 crore in Q2FY23 to Rs 1,883 crore in Q2FY24. During the same period, Net profit has decreased by 35 percent from Rs 336 crore to Rs 217 crore.
As of the September quarter, the company reported an order book of Rs 2,00,427 million, with 84 percent revenue from Multi-Modal Logistics Parks and 10 percent revenue from tunnel projects.
The company has designed and constructed over 100 road projects across 16 states in India. The company receives 84 percent of orders from NHAI and 8 percent of orders from NHPC.
The company has 3 manufacturing units in Rajasthan, Assam, and Uttar Pradesh for processing bitumen, thermoplastic road-marking paint, and road signage, and 1 fabrication and galvanizing unit in Gujarat for manufacturing metal crash barriers and electric poles.
G R Infraprojects Ltd is an integrated road Engineering, Procurement, and Construction company (EPC) that is engaged in the design and construction of various road/highway projects.
Written by Omkar Chitnis
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