H.G. Infra Engineering said that it has been declared as L-1 (lowest) bidder by National Highways Authority of India (NHAI) for a Karnataka-based road project.
The project involves 6-laning of Neelmangala-Tumkur including Tumkur bypass section of NH-48 (Old NH-4) in the State of Karnataka on EPC mode under Bharatmala Pariyojna.
NHAI's bid project cost was Rs 1,112.10 crore. The company's bid project cost is Rs 844.11 crore. The completion period is 3 years.
H. G. Infra Engineering is an infrastructure construction, development and management company. The main business includes providing engineering-procurement-and-construction (EPC) services on a fixed-sum turnkey basis and undertaking civil construction and related infrastructure projects.
The company's consolidated net profit surged to Rs 74.51 crore in the quarter ended September 2021 as against Rs 37.85 crore during the previous quarter ended September 2020. Net sales during the quarter rose 61.69% YoY to Rs 781.55 crore.
The scrip rose 1.65% to end at Rs 585.55 on the BSE.
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