H.G. Infra Engineering advanced 2.75% to Rs 918.05 after its consortium Stockwell Solar Services joint venture (JV) received four solar projects worth Rs 1,026 crore from Jodhpur Vidyut Vitran Nigam.
In a regulatory filing, the company said that the letters of award have been issued by Jodhpur Vidyut Vitran Nigam to Stockwell Solar Services JV consortium with H.G. Infra Engineering for four projects of solar business.
The projects include the design, survey, supply, installation, testing, commissioning, operation and maintenance of the solar power plants for 25 years.
The first solar project would cost Rs 156 crore and have a total capacity of 36.72 megawatts (MW). The second project, with a total capacity of 93.08 MW, is anticipated to cost Rs 396 crore. The third and fourth projects, with an estimated cost of Rs 314 crore and Rs 160 crore, will have a total capacity of 73.96 MW and 37.76 MW, respectively.
The deadline for the four projects, awarded under the Kisan Urja Suraksha Evem Utthan Mahabhiyan (KUSUM) scheme, is 12 months.
The projects will be implemented by a separate entity(ies) incorporated/to be incorporated by Stockwell Solar Services and HG Infra Engineering directly or through its subsidiaries, said the firm.
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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