HG Infra Engineering Emerges as Lowest Bidder for NHAI Projects Worth ₹1,472 Crore

11 Mar 2024 , 01:15 PM

HG Infra Engineering’s share price rose by 3% in opening trade on March 11 after being declared the lowest bidder by the National Highways Authority of India (NHAI) for projects worth ₹1,472 Crore.

At the time of writing, HG Infra Engineering Ltd. was trading at ₹926.00, up 1.90%, on the BSE.

The company secured a contract for the construction of a 4-lane Elevated corridor in Jharkhand, from Kalimandir to Dimna Chowk to Baliguma (Jamshedpur) Section of NH-33 (New NH-18), with a project cost of ₹610.11 Crore and a construction period of 30 months.

Additionally, HG Infra Engineering won a project for an Access Controlled Highway in Andhra Pradesh, covering a 4-lane section with paved shoulders from TN/AP Border to Puttur and a 6-lane section from Mallavaram to Renigunta, with a project cost of ₹862.11 Crore and a construction period of 24 months.

On March 2, the company received a letter of acceptance from South Central Railway for the doubling of track between Karanjgaon station and Aurangabad station, including electrification and signaling works, in connection with the Aurangabad-Ankai Doubling Project in Nanded Division of South-Central Railway, with a project cost of ₹447.11 Crore.

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