HG Infra surges; bags L1 for NHAI project

HG Infra Engineering has been declared as L1 bidder by National Highways Authority of India (NHAI), New Delhi for new EPC project for construction of 6-lane access.

It includes Greenfield highway from km 225+000 to km 252+500 of Sangariya (near Chautala) – Rasisar (near Bikaner) section of NH-754K as a part of Amritsar-Jamnagar Economic Corridor in the State of Rajasthan.

The cost of this NHAI bid project is Rs. 499.87 crore. The bidding price which the company has offered is Rs. 538.11 crore. The project is estimated to get completed within a span of two years. The distance to be covered under this project is around 27 kms.

During February-March 2019, Rs. 35,000 crore of tenders are expected to open for bidding and the above project is one of them. Company’s current order book stands strong at Rs. 5,925 crore. Of this order book, 80 per cent orders comes through EPC projects, while the remaining 20 per cent contributed by HAM projects.

On Tuesday, stock of HG Infra closed at Rs. 175.10 per share. On Wednesday, it opened at Rs 174.75 and surged by 10.7 per cent to make intra-day high of Rs. 193.95. It finally got closed at Rs. 192.70 on BSE.