HG Infra Engineering Ltd. on Friday announced that it bagged an order worth more than Rs 412 crore from the Delhi Metro Rail Corporation Ltd. (DMRC). The company has received the Letter of Acceptance (LoA) dated January 13 from DMRC for the design and construction work of an elevated viaduct and four elevated Delhi Metro stations.
Earlier this month, the company was declared the lowest bidder by DMRC for the aforementioned project. HG Infra’s project bid cost was Rs 412.11 crore against DMRC’s estimated project cost of Rs 398.63 crore. The company said that the construction work on the 3.512 km stretch is likely to be completed in 24 months.
The scope of the project involves part design and construction of an elevated viaduct and four stations -- Keshopur, Paschim Vihar, Peeragarhi, and Mangolpuri -- from P2 to PP88 and from P103 to Mangolpuri Station of Janakpuri West to RK Ashram Corridor of Phase- IV of Delhi MRTS.
After the announcement, shares of HG Infra gained as much as 1.9 percent in opening trade on Monday. The stock hit its 52-week high value of Rs 714.25 last week. Notably, the share price has gained over 13 percent in the last month after winning several orders.
The company recently received a letter of award (LOA) from the National Highways Authority of India (NHAI) for a project in Haryana. Under the project, HG Infra will construct a 6-lane Greenfield Karnal Ring Road starting from NH44 near Shamgarh village and ending at Karnal-Munak Road near Samalkha village under Bharatmala Pariyojana.
HG Infra recorded total revenue of Rs 1,817.74 crore for the first half of the current financial year, an increase of 9.05 percent as compared to Rs 1,666.81 crore in the year-ago period. Profit after tax (PAT) stood at Rs 162.3 crore compared to Rs 158.8 crore during the same period last year.
