The National Highways Authority of India (NHAI) has declared HG Infra Engineering as the lowest bidder (L-1) for a highway project in Jharkhand on a hybrid annuity mode (HAM). Under the Bharatmala Pariyojana in Jharkhand, the project includes the construction of a six-lane greenfield Varanasi Ranchi Kolkata highway from Deoria village to Donoreshan village on HAM. The project’s estimated cost is Rs 998.36 crore, while the company’s bid project cost is Rs 1,303.11 crore. The construction time frame is 730 days.
H.G. Infra Engineering’s primary business is engineering, procurement, and construction (EPC) of roads, bridges, flyovers, and infrastructure contract works, as well as related activities. In Q3 FY23, the company’s consolidated net profit increased by 30.2% to Rs 130.89 crore on a 23.7% increase in net sales to Rs 1,184.97 crore compared to Q3 FY22.