Hot Pursuit     12-Jan-24
H.G. Infra jumps on emerging as L-1 bidder for railway project in Maharashtra
H.G. Infra Engineering rallied 3.24% to Rs 914.85 after the firm announced that it has been declared as lowest bidder (L-1) by Central Railway for construction of a new railway line in Maharashtra under EPC mode.
The scope of the project entails construction of new BG line between Dhule (Borvihir) to Nardana (approximately 49.45 Km) of Central Railway in the state of Maharashtra.

Central Railway's estimated cost of the project is Rs 740.54 crore and the company's bid project cost is Rs 716.11 crore. The construction period of the project is 30 months.

H.G Infra Engineering provides engineering, procurement and construction (EPC) services on a fixed-sum turnkey basis and undertakes civil construction and related infrastructure projects in the road construction space.

The company’s consolidated net profit rose 17.3% to Rs 96.12 crore on 20% increase in net sales to Rs 954.53 crore in Q2 FY24 over Q2 FY23.

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