HG Infra Engineering snaps 6-day losing streak, shares rise 5% after ₹781 crore order win

Share of HG Infra Engineering Limited surged over 5% on Tuesday, September 10, after the company announced securing an order worth ₹781 crore from the Ministry of Road Transport and Highways (MoRTH).

HG Infra Engineering informed the exchanges in a filing, on September 9, that it has received a LoA (Letter of Acceptance) from the MoRTH for the upgradation of an existing six lane road and elevated corridor. The upgradation will be done as per site requirements on Narol to Sarkhej Junction of the NH47 in Gujarat.

The project has a total length of 10.63 kilometres and has been awarded on a Hybrid Annuity Mode (HAM). The consideration for the project is ₹781.11 crore and will be executed in 2.5 years, the company informed the bourses.

Shares of Hg Infra Engineering rallied as much as 5.42% to hit an intraday high of ₹1,540 apiece on the NSE in morning trade, ending six-day losing streaking. However, the stock pared some of early gains to trade at ₹1,527 apiece, up 4.53%, on the NSE at 12:02 pm.

HG Infra Engineering’s consolidated revenue from operations for the June quarter of FY25 increased more than 13% year-on-year (YoY) to ₹1,528 crore compared to ₹1,351.2 crore in the corresponding quarter of the preceding fiscal. Sequentially, the company’s revenue from operations fell over 10% from ₹1,708.3 crore in the March quarter of FY24.

HG Infra Engineering’s consolidated profit after tax for Q1FY25 increased more than 8% to ₹162.56 crore compared to ₹150.38 crore in Q1FY24. The company’s profit after tax for Q1FY25 dropped more than 14% from ₹190.03 crore in Q4FY24.

HG Infra Engineering Limited (HGIEL) is a leading player in the infrastructure development sector. The company is engaged in the construction of roads, highways and bridges.