Rs 16,623.50 Crore Order Book: Civil Construction Company Bags Order of Rs 763.11 Crore from Ministry of Road Transport and Highways (MORTH)
The stock is up by 92.3 per cent from its 52-week low of Rs 806 per share and gave multibagger returns of 600 per cent in 5 years.
H.G. Infra Engineering Limited has secured a significant contract from the Ministry of Road Transport and Highways (MORTH) for the improvement and up-gradation of NH227B Bahuvan Madar Majha to Jagarnathpur in Uttar Pradesh. This 63.84 km project, part of the "84 Kosi Parikrama Marg," will be executed under the Hybrid Annuity Mode (HAM) with an estimated cost of Rs 898.5 crore. HGINFRA successfully bid for the project at Rs 763.11 crore and is expected to complete the construction within a timeframe of 2 years.
Earlier, the company secured two significant contracts in the energy storage sector. The company has been selected as a qualified bidder for a 250 MW/500 MWh battery energy storage system project in Gujarat, awarded by Gujarat Urja Vikas Nigam Ltd (GUVNL). Additionally, HGIEL has been awarded a contract by NTPC Vidyut Vyapar Nigam Limited to set up a 185 MW/370 MWh standalone battery energy storage system. These projects, both awarded through competitive bidding processes and supported by viability gap funding, underscore HGIEL's position as a key player in India's renewable energy landscape.
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About the Company
H.G. Infra Engineering Limited (HGIEL) is an Indian road infrastructure company engaged in the business of engineering, procurement and construction (EPC) services, maintenance of roads, bridges, flyovers and other infrastructure contract works. The company has a market cap of over Rs 8,600 crore and reported positive numbers in its Quarterly Results & annual results.
Order Book: The company’s order book stands at Rs 16,623.50 crore as of September 30, 2024. The orders are bagged from various clients across India, including NHAI, Adani, DMRC, RVNL and NCR.
As of September 2024, Abakkus Emerging Opportunities Fund – 1 (owned by a renowned ace investor, Sunil Singhania) owns a 1.33 per cent stake in the company. The stock has an ROE of 24 per cent and an ROCE of 24 per cent. The stock is up by 92.3 per cent from its 52-week low of Rs 806 per share and gave multibagger returns of 600 per cent in 5 years. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.