Rs 12,434 crore order book and FIIs & DIIs increase stake: This multibagger infrastructure stock bags Rs 14.65 crore contract from Rail Land Development Authority!
Shares of the company gained more than 80 per cent in the last six months.
H.G. Infra Engineering Limited secured a contract from the Rail Land Development Authority (RLDA) for developing commercial property on railway land in Abu Road, Rajasthan. The 60-year lease project involves a plot of 8034.10 sqm, with a project cost of Rs 14.65 crore, exceeding RLDA's reserve price of Rs 14.41 crore. This Design, Build, Finance, Operate, and Transfer (DBFOT) project signifies H.G. Infra's expansion into commercial real estate development while leveraging its expertise in the construction sector. The project is expected to be completed within the 60-year lease term.
H.G. Infra Engineering Limited has posted strong Quarterly Results in Q4FY24. The shares of the company gained more than 15 per cent on Tuesday. The revenue of the company stood at Rs 1708.26 crore which grew by 11.26 per cent YoY. The operating profit of the company stood at Rs 338.16 crore which grew by 11.33 per cent on a YoY basis, while the PAT of the company stood at Rs 189.90 crore, which increased by 11.43 per cent on a YoY basis.
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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 is majorly engaged in road construction activities through EPC Business with a selective focus on Hybrid Annuity Model (HAM) Projects. FIIs & DIIs have increased their stake in the company in March 2024. The company has an order book of Rs 12,434 crore. Shares of H.G. Infra Engineering Limited have also delivered multibagger returns of about 240 per cent in a three-year holding period.
The stock has shown impressive growth, and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.