H. G. Infra Engineering said that its wholly owned subsidiary, H.G. Solar Projects Private has incorporated a wholly owned subsidiary, namely H.G. Jaipur Solar Project Private.
The company has subscribed to the share capital of H.G. Jaipur Solar Project Private with Rs 1,00,000 divided into 10,000 equity shares of Rs 10/- each.H.G. Jaipur Solar Project Private will carry out business in the field of Solar Power.
Poonam Singh Choudhary and Navneet Choudhary, directors of H.G. Jaipur Solar Project Private, belong to the promoter group of the Company. The shares have been subscribed at par and at arms length.
H G Infra Engineering is primarily involved in the construction of roads and highways in Odisha, Telangana, Rajasthan, Delhi, Andhra Pradesh, Haryana, and Uttar Pradesh. HGIEL is accredited AA class by the Public Works Department (PWD) of the Government of Rajasthan (GoR) and is registered as an SS class contractor by the Military Engineer Services (MES).
The companys consolidated net profit jumped 11.2% to Rs 190.03 crore in Q4 FY24 as compared with Rs 170.93 crore in Q4 FY23. Revenue from operations increased 11.3% YoY to Rs 1,708.26 crore in Q4 FY24.
The scrip rallied 2.43% to end at Rs 1,568.45 on Monday, 10 June 2024.
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