Rs 16,623.50 Crore Order Book: Solar Civil Construction Company Bags 250 MW/500 MWh project from GUVNL as a Part of Standalone Battery Energy Storage Systems project in Gujarat
The stock is up by 70 per cent from its 52-week low of Rs 854 per share and gave multibagger returns of over 450 per cent in 5 years.
H.G. Infra Engineering Limited (HGINFRA) has announced that it has received a Letter of Intent (LOI) from Gujarat Urja Vikas Nigam Limited (GUVNL). The LOI pertains to the development of a 250 MW/500 MWh project, which is part of a larger 500 MW/1000 MWh Standalone Battery Energy Storage Systems project in Gujarat.
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This project, awarded under Phase-IV of the Tariff-Based Global Competitive Bidding process, includes Viability Gap Funding (VGF) support to make the project financially viable.
The completion period for the awarded 250 MW/500 MWh project is 18 months. This development follows an earlier announcement made by HGINFRA on November 30, 2024.
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 9,700 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 70 per cent from its 52-week low of Rs 854 per share and gave multibagger returns of over 500 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.