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G R Infraprojects announced that it has emerged as successful bidder and has received letter of intent (LoI) from REC Power Development and Consultancy for Establishment of ‘transmission system for evacuation of power from RE projects in Rajgarh (1000 MW) SEZ in Madhya Pradesh‐Phase II’.
The project is a part of inter‐state transmission system network, through tariff based competitive bidding process (TBCB). The operation period of the project is 35 years.
G R Infraprojects is an integrated road engineering, procurement and construction (EPC) company largely focused on road sector. The company has also recently diversified into projects in the railway sector.
The company’s consolidated reported net profit slipped 35.41% to Rs 217.16 crore on 11.9% decline in net sales to Rs 1882.78 crore in Q2 FY24 over Q2 FY23.
The scrip shed 1.61% to currently trade at Rs 1,113.75 on the BSE.
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