NEW DELHI (Metro Rail News): HG Infra Engineering Ltd. was awarded an order worth more than Rs 412 crore by the Delhi Metro Rail Corporation Ltd. (DMRC) on January 13. DMRC gave the Letter of Acceptance (LoA) to the company dated January 13 for the design and construction of an elevated viaduct and four elevated Delhi Metro stations.
Earlier this month, the company was pronounced the lowest bidder by DMRC for the project, with a bid cost of Rs 412.11 crore against DMRC’s estimated project cost of Rs 398.63 crore. The construction work on the 3.512 km stretch will likely be completed in 24 months.
The project’s scope includes part design and construction of an elevated viaduct and four stations — Keshopur, Paschim Vihar, Peeragarhi, and Mangolpuri — from P2 to PP88 from P103 to Mangolpuri Station of Janakpuri West to RK Ashram Corridor of Phase- IV of Delhi MRTS.
On January 16, HG Infra shares rose as much as 1.9 per cent at the start of trading, reaching its 52-week peak of Rs 714.25. HG Infra has seen an increase of 13 per cent in the past month after receiving several orders, with the most recent being a Letter of Award (LOA) from the National Highways Authority of India (NHAI) to construct a 6-lane Greenfield Karnal Ring Road between Shamgarh village and Samalkha village under the Bharatmala Pariyojana.
HG Infra Engineering Ltd.’s total revenue for the first half of the current financial year was Rs 1,817.74 crore, an increase of 9.05 per cent from the year-ago figure of Rs 1,666.81 crore. Profit after tax (PAT) was Rs 162.3 crore compared to Rs 158.8 crore in the same period of the previous financial year.
The company’s stock price is trading at 0.41 per cent higher at Rs 669.05.
