The Delhi Metro Rail Corporation Ltd. has awarded HG Infra Engineering Ltd. a contract worth more than Rs 412 crore (DMRC). DMRC has issued the company a Letter of Acceptance (LoA) dated January 13 for the design and construction of an elevated viaduct and four elevated Delhi Metro stations. DMRC declared the company the lowest bidder for the aforementioned project earlier this month. The project bid cost Rs 412.11 crore, compared to the DMRC’s estimated project cost of Rs 398.63 crore. The construction work on the 3.512 km stretch is expected to be completed in 24 months, according to the company.
The project scope includes the 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 Delhi MRTS Phase IV. Following the announcement, HG Infra shares rose as much as 1.9 percent in early trading on Monday. Last week, the stock reached a 52-week high of Rs 714.25. Notably, the share price has risen by more than 13% in the last month as a result of several orders.
The National Highways Authority of India (NHAI) recently awarded the company a letter of award (LOA) for a project in Haryana. Under the Bharatmala Pariyojana, HG Infra will build a 6-lane Greenfield Karnal Ring Road from NH44 near Shamgarh village to Karnal-Munak Road near Samalkha village.