The project involves construction of a 4-lane highway with paved shoulders from the Tamil Nadu/Andhra Pradesh border to Puttur and a 6-lane highway with paved shoulders from Mallavaram to Renigunta in the state of Andhra Pradesh.

The hybrid annuity mode (HAM) is to be executed under NH(O),Chennai Tirupati Package-II, with a completion period of 24 months. The estimated cost reportedly is Rs 943.99 crore, and HG Infra's bid cost is Rs 862.11 crore.

H.G Infra Engineering is engaged in the business of engineering, procurement and construction (EPC), maintenance of roads, bridges, flyovers and other infrastructure contract works.

The company reported 22.03% fall in consolidated net profit to Rs 102.05 crore despite of 15.15% rise in revenue from operations to Rs 1,364.53 crore in Q3 FY24 over Q3 FY23.

The scrip rose 0.53% to currently trade at Rs 910.15 on the BSE.