Power Infra Company Secures Order Worth Rs 53,77,00,000 from REC Power; FIIs Increase Stake in Q1 FY25!
This Small-Cap infrastructure player is a prominent integrated road engineering, procurement, and construction (EPC) company with extensive experience in designing and constructing road and highway projects across 15 states in India. The company primarily focuses on civil construction projects under the EPC and Build-Operate-Transfer (BOT) models in the road sector.
Today, G R Infraprojects Ltd received a Letter of Intent from REC Power Development and Consultancy Limited, dated August 12, 2024, for the establishment of a transmission scheme for integrating the Tumkur-II Renewable Energy Zone (REZ) in Karnataka. This project, secured through a Tariff-Based Competitive Bidding (TBCB) process, includes the following elements:
- Establishment of a 400/220 kV 4x500 MVA Pooling Station near Tumkur, Karnataka.
- Tumkur-II to Tumkur (Pavagada) 400 kV (Quad ACSR Moose) Double Circuit Line.
- Two 125 MVAr 420 kV Bus Reactors with bays at Tumkur-II Pooling Station.
The project is valued at Rs 537.70 million and is scheduled for completion within 24 months on a Build-Own-Operate-Transfer (BOOT) basis. We will provide updates on any further developments related to this project.
Today, shares of G R Infraprojects Ltd are closed at around Rs 1604 per share. The company’s current market capitalization stands at Rs 15509 crore.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.
As per the Quarterly Results, in Q1 FY25, G R Infraprojects Ltd recorded a revenue of Rs 2030 crore from Rs 2478 crore. The operating profit for Q1 FY25 stood at Rs 368 crore. The net profit for Q1 FY25 stood at Rs 156 crore compared to a profit of Rs 310 crore last year same quarter. Looking at the annual performance, the company generated a revenue of Rs 8980 crore in FY24. The operating profit for FY24 was Rs 2122 crore with a net profit of Rs 1323 crore compared to a net profit of Rs 1454 crore in FY23.
Investors must keep this small-cap company on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.