Shares of GR Infraprojects Ltd were trading in the green and 3% higher on 7 August after the company announced emerging as the lowest bidder (L-1) for a project in Karnataka.

In an exchange filing, GR Infraprojects said, “We are pleased to inform you that our company has emerged as L‐1 bidder for establishing “Transmission scheme for integration of Tumkur‐II REZ” in the State of Karnataka, through tariff based competitive bidding (TBCB) process on build own operate and Transfer (BOOT) basis.”

On 6 August 2024, REC Power Development and Consultancy Limited, the Bid Process Coordinator (BPC), held an e-reverse auction.

The company added, “The responsibility of the TSP would be to establish the Transmission System comprises of Establishment of 400/220 kV 4×500 MVA Pooling Station near Tumkur, Karnataka, 400kV DC Line Tumkur‐II – Tumkur (Pavagada) with 2 nos. 400kV Line bays and 2×125 MVAr 420 kV bus reactors with bays at Tumkur‐II PS.”  

Established in 1995, G R Infraprojects Ltd is a renowned integrated Engineering, Procurement, and Construction (EPC) company with a focus on road infrastructure. With a proven track record, the company has designed and constructed over 100 road projects in 16 Indian states. 

Its primary business, which includes Hybrid Annuity Model (HAM), Build-Operate-Transfer (BOT), and EPC projects all pertaining to the road sector, generates about 90% of its total revenue. Roads, trains, metropolises, airport runways, and Optical Fibre Cable (OFC) projects are all built by G R Infraprojects.

The corporation entered the power transmission industry as a result of its diversification strategy. Ten operational assets are currently under the management of G R Infraprojects, comprising one state HAM project, eight more NHAI HAM projects, and one annuity project for the National Highways Authority of India (NHAI).

At 12:04 pm, the shares of GR Infraprojects were trading 1.32% higher at Rs 1,619.40 on NSE.

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