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HG Infra Engineering has been awarded a ₹781.1 crore project from MoRTH to upgrade NH-47 in Gujarat. The project involves a 10.63 km road enhancement between Narol and Sarkhej, with a 2.5-year construction timeline. HG Infrastructure's share price stood at ₹1,456.95.
HG Infra Engineering Ltd announced on Monday that it has secured a significant ₹781.1 crore contract from the Ministry of Road Transport & Highways (MoRTH). The awarded project entails the upgradation of a 10.63 km stretch on National Highway 47 (NH-47) in Gujarat, connecting Narol junction to Sarkhej junction.
This contract is part of the government's efforts to improve national road infrastructure and facilitate smoother transportation routes in key regions. HG Infra Engineering has continued to expand its presence in large-scale infrastructure projects, further enhancing its portfolio.
The project, valued at ₹781.11 crore, includes upgrading the existing six-lane road and constructing an elevated corridor along the 10.63 km stretch of NH-47. It will be executed under the hybrid annuity mode (HAM), a popular public-private partnership (PPP) model in India that provides a balanced risk-sharing mechanism between the government and private developers.
The construction period for this project is set at 2.5 years, during which HG Infra will be responsible for ensuring the completion of the highway upgrade, aimed at boosting traffic capacity and reducing congestion in the area. The completion of this project will significantly improve the connectivity between Narol and Sarkhej junctions, vital regions in Gujarat.
The Ministry of Road Transport & Highways had estimated the project cost to be ₹883.24 crore, but HG Infra emerged as the lowest bidder, securing the contract at ₹781.11 crore. This competitive bid reflects HG Infra's strategic approach to securing infrastructure projects while ensuring profitability.
HG Infra Engineering, headquartered in Rajasthan, specialises in infrastructure construction services, including highways, roads, bridges, and civil projects. With this new contract, the company continues to solidify its position as a key player in India's infrastructure development sector.
On the financial front, the shares of HG Infra Engineering ended at ₹1,456.95, marking a 2.37% drop by ₹35.30 on the Bombay Stock Exchange (BSE) on Monday. However, the new contract win is expected to positively influence the company’s growth prospects in the coming quarters.
The ₹781.11 crore project win for the NH-47 upgrade strengthens HG Infra's role in India's national highway development initiatives. With ongoing projects and a growing portfolio, HG Infra remains a significant contender in the infrastructure sector.
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