HG Infra Engineering shares gain 3% on winning projects worth Rs 1,472 crore from NHAI

The company bagged a project to Access Controlled Highway of 4 Lane with paved shoulders in Andhra Pradesh on Hybrid Annuity Mode.

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HG Infra Engineering share price surged 3 percent in the opening trade on March 11 after the company was declared as the lowest bidder by the National Highways Authority of India (NHAI) for projects worth Rs 1,472 crore.

At 09:31 am, HG Infra Engineering Ltd. was quoting Rs 935.10, up Rs 27, or 2.97 percent, on the BSE.

The company received a contract for the construction of 4 lane Elevated corridor of Kalimandir- Dimna Chowk- Baliguma (Jamshedpur) Section of NH-33 (New NH-18) (from km 241.940 to km 251.961) (Length 10.021 km) under NH(O) on Engineering, Procurement and Construction (EPC) mode in Jharkhand.

The project cost is Rs 610.11 crore and construction period is 30 months.

Also, the company bagged a project to Access Controlled Highway of 4 Lane with paved shoulders from TN/AP Border (Design Chainage km 61+51) to Puttur (Design Chainage Km 81+450) of NH-716 & 6 Lane with Paved Shoulders from Mallavaram (Design Chainage Km 97+100) to Renigunta (Design Chainage Km 114+500) of NH-71 in Andhra Pradesh on Hybrid Annuity Mode under NH(O) (ChennaiTirupati Package-II).

The project cost is Rs 862.11 crore and construction period is 24 months.

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On March 2, the company received the letter of acceptance from South Central Railway for the project of doubling of track between Karanjgaon station (Including) at Km 69.01(Ch 69010) & Aurangabad station (Including) at Km 113.15(Ch 113150) [i.e. (44.14 km)] including electrification and signaling works in connection with urangabadAnkai Doubling Project in Nanded Division of South-Central Railway.

The said project cost was Rs 447.11 crore.