Thursday, July 11, 2024
HomeStocksH.G. Infra Engineering Limited wins Rs 709 crore railway project in Bihar

H.G. Infra Engineering Limited wins Rs 709 crore railway project in Bihar

H.G. Infra Engineering Limited (HGINFRA) has been declared the lowest bidder (L-1) by East Central Railway for a significant railway infrastructure project in Bihar. The project involves constructing a double line track (3rd & 4th line) formation over a 66.88 km stretch between Gaya and Son Nagar.

This project, valued at an estimated Rs. 772.70 crore, will be executed under the Engineering, Procurement, and Construction (EPC) mode. HGINFRA has bid for the project at Rs. 709.11 crore and is expected to complete it within 36 months.

The project scope encompasses various aspects, including earthwork, blanketing, construction of minor and major bridges, electrification works, and other miscellaneous works. This win marks a significant achievement for HGINFRA, further strengthening its position in the Indian railway infrastructure development sector and contributing to improved connectivity within the region.

Financial Performance    

In Q3FY24, the company posted a 15.15% increase in its consolidated revenue at Rs 1,364.53 crore compared to Rs 1,184.97 crore from the previous year’s corresponding quarter. The operating profit of the company stood at Rs 232.16 crore, while the PAT of the company stood at Rs 101.098 crore, from Rs 130.67 crore last year in the same quarter.  

Business Overview  

HG Infra is a road infrastructure company engaged in the business of engineering, procurement and construction (EPC) services, maintenance of roads, bridges, flyovers and other infrastructure contract works.

Stock Price Movement 

Today, the stock opened at Rs 917.95, with a high and low of Rs 921.40 and Rs 887.75, respectively. The stock is currently trading at Rs 902, which increased by 2.57%. The stock has a 52-week high of Rs 1,016.75 and a 52-week low of Rs 716.65.

The stock has shown impressive growth, and investors should keep a close eye on this stock. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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