H.G. Infra gains on bagging LoA for 500-MW Battery Storage Project

H.G. Infra Engineering rallied 4.69% to Rs 1,336 after the company informed that it has received a Letter of Award from NTPC Vidyut Vyapar Nigam for a battery energy storage systems project under the tariff-based global competitive bidding process.

The project involves the procurement and setup of 500 MW/1000 MWh of standalone battery energy storage systems in India, with viability gap funding support.

As part of the contract, the company will be responsible for handling 185 MW/370 MWh of the total capacity at a tariff rate of Rs 2,38,000 per MW per month. The project is scheduled for completion within 1.5 years.

 

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 company reported 16.01% decline in consolidated net profit to Rs 80.73 crore in Q2 FY25 as compared to Rs 96.12 crore posted in Q2 FY24. Revenue from operations declined 5.46% YoY to Rs 902.40 crore in the quarter ended 30 September 2024.

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