After the company received a letter of award (LoA) from the National Highways Authority of India (NHAI) for a hybrid annuity model (HAM) project in the state of Haryana, then H.G. Infra Engineering rallied 4.92% to Rs 603.85.
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The project is to construct of terminating at Karnal -Munak Road (MDR-115) near Village Samalakha under Bharatmala Pariyojana in Haryana and 6-lane Greenfield Karnal Ring Road starting from NH44 near Village Shamgarh.
The expected project cost is Rs 743.74 crore, and bidding of the project cost is Rs 997.11 crore and is expected to be completed within 730 days.
The company is to engage in procurement and engineering construction (EPC) relating to flyovers, roads, bridges and infrastructure contract works and related activities.
On a consolidated basis, the net profit hit a high of 10% to Rs 81.93 crore on a 1.3% go up in net sales to Rs 795.70 crore in July-September of FY23 over July-September of FY22.
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