Realty stock that is engaged in the business of offering Engineering, Procurement, and Construction (EPC) services, jumped 3 percent in the day’s trade after securing orders worth Rs. 2,228.22 Crores.
In the day’s trade on December 1, 2023, the shares of HG Infra Engineering limited closed at Rs. 863, up 1.54 percent from its previous day’s close price of Rs. 849.90 and its market capitalization is Rs. 5,623 Crores.
HG Infra Engineering Limited’s subsidiary H.G. Varanasi -Kolkata PKG-10 Highway Private Limited in receipt of the letter dated November 29, 2023 from the National Highways Authority of India has received a contract worth Rs. 1,303.11 Crores.
The project is for the Construction of the 6lane Greenfield Varanasi Ranchi-Kolkata Highway from Deoria village to Donoreshan village from km 253.000 to km 288.600 under Bharatmala Pariyojana in the State of Jharkhand on Hybrid Annuity Mode (HAM). The project is to be completed by 730 days from the date of signing of the contract.
In addition to this H.G. Varanasi -Kolkata PKG-13 Private Limited another subsidiary of the company in receipt of the letter dated November 30, 2023, from the National Highways Authority of India has received a project worth Rs. 925.11 Crores.
The company’s revenue from operations grew 23.21 percent from Rs. 3,751.43 Crores in FY22 to Rs. 4,622.01 Crores in FY23, accompanied by increasing profits of Rs. 380.04 Crores to Rs. 493.19 Crores.
It has reported a return on equity (ROE) of 29.38 percent and a return on capital employed (ROCE) of 25.38 percent, it is making good returns on its equity and capital employed.
According to the latest shareholding data available for the September 2023 quarter, the company’s Promoters hold 74.53 percent stake, the Domestic Institutional Investors hold 13.04 percent and the Foreign Institutional Investors (FII) hold 1.67 percent.
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.
Written by: Bharath K.S
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