G R Infraprojects added 3.71% to Rs 1625.70 after the company announced that it has emerged as L-1 bidder for two tenders worth Rs 4,346.14 crore floated by the Maharashtra State Road Development Corporation.
The first project involves building a 9.341 km access-controlled section of the Pune Ring Road in Pune District, stretching from Kalyan/Rathwade to Shivare/Kusgaon Phase (Haveli/Bhor taluka). The project will be executed using the EPC (engineering, procurement, and construction) mode and carries a contract price of Rs 1,997.07 crore. The construction period is set at 36 months from the appointed date.
The second project entails constructing a 33.300 km stretch of the Nagpur-Chandrapur access-controlled super communication expressway. The section runs from Seldoh (Seloo taluka) to Lonhar (Samudrapur taluka) in Wardha district. Similar to the Pune Ring Road project, this one will also be built using the EPC mode, with a contract price of Rs 2,349.07 crore. The targeted completion period is 30 months from the appointed date.
GR Infraprojects is engaged in construction of infrastructure facilities on engineering, procurement and construction (EPC) and built, operate and transfer (BOT) basis.
The companys consolidated net profit fell 25% to Rs 242.72 crore on 2.6% decline in revenue from operation to Rs 2,134.02 crore in Q3 FY24 over Q3 FY23.
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