H.G. Infra Engineering rallied 2.73% to Rs 903.40 after the company said that it has been declared as lowest bidder (L-1) by East Central Railway for a construction project, under EPC mode.
The scope of the project entails construction of double line track (3rd & 4th line) formation including earth work, blanketing, minor bridges, major bridges, electrification works and other miscellaneous works for 32.5 T axle load including Electrical TRD (2x25 KV) in Gaya-Son Nagar section in DDU Division of East Central Railway in Bihar.The Central Railway's estimated cost of the project is Rs 772.70 crore and the company's bid project cost is Rs 709.11 crore. The construction period of the project is 36 months.
H.G Infra Engineering is engaged in the business of Engineering, Procurement and Construction (EPC), Maintenance of roads, bridges, flyovers and other infrastructure contract works.
The company reported 22.03% fall in consolidated net profit to Rs 102.05 crore despite of 15.15% rise in revenue from operations to Rs 1,364.53 crore in Q3 FY24 over Q3 FY23.
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