G R Infraprojects rose 3.66% to Rs 1936.95 after the company said it has received letter of award (LoA) for a road project in Punjab.
G R Infraprojects has received Letter of Award (LoA) for the construction of four/six lane Greenfield Ludhiana - Rupnagar National Highway in Punjab on Hybrid Annuity Mode.The bid project cost is Rs 951 crore. The completion period for the project is 730 days from appointed date and operation period is 15 years from commercial operation date.
G R Infraprojects is an integrated road engineering, procurement and construction (EPC) company largely focused on road sector. The company have also recently diversified into projects in the railway sector.
It posted a consolidated net profit of Rs 221.27 crore and net sales of Rs 2,264.48 crore in Q1 FY22.
Shares of G R Infraprojects debuted on the bourses on 19 July 2021 at a price of Rs 1700 per share, at a premium of 103.11% to the IPO price of Rs 837 per share.
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