G R Infraprojects rose 1.56% to Rs 1,647.40 after the company informed that it has received Letter of Acceptance (LoA) from Maharashtra State Road Development Corporation (MSRDC) to construct ring road in Pune, Maharashtra.
The said project involves the construction of an access-controlled Pune Ring Road in Pune district, specifically Package PRR W5. This segment will run from village Kalyan/Rathwade to village Shivare/Kusgaon, covering a total length of 9.341 km in the Haveli/Bhor region of Maharashtra.The company has negotiated contract price from the earlier offer bid price of Rs 1,997.07 crore to Rs 1,885.63 crore.
The project will be execute on EPC mode within a period of 36 months from the date of appointment.
GR Infraprojects is engaged in construction of infrastructure facilities on engineering, procurement and construction (EPC) and built, operate and transfer (BOT) basis.
The company's consolidated net profit tumbled 49.83% to Rs 155.45 crore in Q1 FY25 as compared to Rs 309.84 crore recorded in corresponding quarter previous year. Revenue from operations fell 18.07% year on year (YoY) to Rs 2,030.30 crore in the quarter ended 30 June 2024.
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