HG Infra Engineering said that it has been declared as lowest bidder (L-1) by National Highways Authority of India (NHAI) for a highway project in Jharkhand on hybrid annuity mode (HAM).
The project includes construction of six lane greenfield Varanasi Ranchi Kolkata highway from Deoria village to Donoreshan village under Bharatmala Pariyojana in Jharkhand on HAM.NHAI's estimated cost of the project is Rs 998.36 crore and the company's bid project cost is Rs 1,303.11 crore. The construction period is 730 days
H.G. Infra Engineering is primarily engaged in the business of engineering, procurement, and construction (EPC) relating to roads, bridges, flyovers, and infrastructure contract works and related activities.
The company's consolidated net profit rose 30.2% to Rs 130.89 crore on 23.7% jump in net sales to Rs 1,184.97 crore in Q3 FY23 over Q3 FY22.
The scrip was down 0.80% to Rs 791.15 on the BSE.
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