HG Infra bags ₹763-crore UP road project from Transport Ministry – CNBC TV18
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“..we are pleased to inform you that H.G. Infra Engineering Limited (the company or HGINFRA) has received the letter of acceptance from the Ministry of Road Transport and Highways (MORTH),” HG Infra Engineering said in a regulatory filing.
The project, awarded under the hybrid annuity mode (HAM), involves the development of a 63.84-km stretch into two lanes with paved shoulders. HG Infa’s bid project cost stands at ₹763.11 crore, while MoRTH’s estimated project cost is ₹898.5 crore. The construction is set to be completed in two years’ time.
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“Improvement and up-gradation in two lanes with paved shoulders configuration of newly declared NH-227B Bahuvan Madar Majha to Jagarnathpur (Design Km 160.200 to Km 224.040) “84 Kosi Parikrama Marg” in the State of Uttar Pradesh on Hybrid Annuity Mode Package VI,” it said.
HG Infra Engineering reported a 16% year-on-year (YoY) dip in net profit at ₹80.7 crore for the second quarter that ended September 30, 2024. In the corresponding quarter of the previous fiscal, HG Infra Engineering posted a net profit of ₹96.1 crore, the company said in a regulatory filing.
The company’s revenue from operations fell 5.5% YoY to ₹902.4 crore over ₹954.5 crore. At the operating level, EBITDA dipped 0.3% to ₹219.5 crore in the second quarter of this fiscal over ₹220.1 crore in Q2 of FY24.
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The EBITDA margin stood at 24.3% in the reporting quarter compared to 23% in the prior-year period. EBITDA is earnings before interest, tax, depreciation, and amortisation.
Shares of HG Infra Engineering Ltd ended at ₹1,451, down by ₹9.80, or 0.67%, on the BSE today (December 10).
(Edited by : Shoma Bhattacharjee)
