H.G. Infra Engineering rose 1.43% to Rs 784.70 after the civil construction company announced that it has been declared as lowest bidder (L-1) by National Highways Authority of India (NHAI) for a road construction project in Jharkhand.
The scope of the project entails construction of six lane Greenfield Varanasi-Ranchi-Kolkata highway from Jn with NH320 in Lepo village to Kamlapur village (JH/WB border) under Bharatmala Pariyojana in the state of Jharkhand on hybrid annuity mode (HAM) (Package 13).
NHAI's estimated cost of the project is Rs 764.01 crore and the company's bid project cost is Rs 925.11 crore. The construction period of the project is 730 days.
H.G. Infra Engineering is engaged in engineering, procurement and construction (EPC), maintenance of roads, bridges, flyovers and other infrastructure contract works.
The company's consolidated net profit rose 30.2% to Rs 130.89 crore on 23.7% jump in net sales to Rs 1,184.97 crore in Q3 FY23 over Q3 FY22.
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