Shares of HG Infra Engineering Ltd rallied 5% on 10 September after the company announced securing a contract worth Rs 781 crore from the Ministry of Road Transport & Highways (MoRTH).

The contract is for upgrading a 10.630  km stretch of the National highway 47 (NH47) in Gujarat, between Narol and Sarkhej junctions. The contract also entails constructing an elevated corridor, and has to be executed under the hybrid annuity model. The said contract is said to be completed in the next 2.5 years. 

The company has been under constant limelight as it has been consistently securing significant contracts. 

Earlier in August, the company was declared the lowest bidder (L1) for another road upgrade project in Gujarat. The estimated cost set by MoRTH was Rs 883.24 crore and the company’s bid came in at Rs 781.11 crore. 

HG Infra Engineering, headquartered in Rajasthan, offers a diverse range of infrastructure construction services. These services include the development of highways, roads, and bridges, as well as runways, land development, and water pipeline projects. The company is also recognized for its expertise in rehabilitation and upgradation projects, strengthening its position in the Indian infrastructure sector.

At 11:12 am, the shares of HG Infra Engineering were trading 4.94% higher at Rs 1,533 on NSE.

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