HG Infra Engineering jumps over 5% on securing LoA from Ministry of Road, Transport and Highways

HG Infra Engineering has received the letter of acceptance (LoA) from the Ministry of Road Transport and Highways (MORTH) for the project of improvement and up-gradation in two lanes with paved shoulders configuration of newly declared NH227B Bahuvan Madar Majha to Jagarnathpur (Design Km 160.200 to Km 224.040) 84 Kosi Parikrama Marg in the State of Uttar Pradesh on Hybrid Annuity Mode Package VI. The bid project cost is ₹763.11 crore, and the construction period is 2 years.

Last month, HG Infra Engineering was declared a qualified bidder by the Gujarat Urja Vikas Nigam for 250 MW/500 MWH out of the project to set up 500 MW/1000 MWh Standalone Battery Energy Storage Systems in Gujarat under Tariff-Based Global Competitive Bidding (Phase-IV) with Viability Gap Funding Support.

Revenue for the quarter ended September 2024 of ₹1064.4 crore grew by 22.43 % from ₹869.4 crore. Profit grew 43.74% to ₹88.6 crore over ₹61.6 crore in the corresponding previous quarter. Operating profit for the quarter ended September 2024 rose to ₹177.6 crore compared to ₹140.0 crore in the corresponding quarter ended September 2023.

HG Infra Engineering is an infrastructure construction, development, and management company with extensive experience in the focus area of road projects, including highways, bridges, and flyovers.