H.G. Infra Engineering rallied 4.11% to Rs 1,524.90 after the company said that it has received letter of award (LoA) from the Ministry of Road Transport and Highways (MORTH) for a hybrid annuity model (HAM) project in Uttar Pradesh.
The scope of the project entails improvement and up-gradation in two lane with paved shoulders configuration of newly declared NH227B Bahuvan Madar Majha to Jagarnathpur 84 Kosi Parikrama Marg in Uttar Pradesh on HAM Package VI.MORTHs estimated cost of the project is Rs 898.5 crore and the company's bid project cost is Rs 763.11 crore. The completion period is estimated to be 2 years.
H.G. Infra Engineering is primarily engaged in the business of engineering, procurement, and construction (EPC) relating to roads, bridges, flyovers, and infrastructure contract works and related activities.
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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