The project involves developing a 63.84-km stretch into a two-lane road with paved shoulders under the hybrid annuity model (HAM). The construction is expected to be completed within two years.
The company’s bid for the project was valued at Rs 763.11 crore, compared to the Ministry’s estimated cost of Rs 898.5 crore. The project, according to the filing, aims to “improve and upgrade the two-lane road with paved shoulders configuration from Bahuvan Madar Majha to Jagarnathpur.”
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HG Infra Engineering reported a 16% year-on-year (YoY) dip in net profit at Rs 80.7 crore for the second quarter that ended September 30, 2024. In the corresponding quarter of the previous fiscal, HG Infra Engineering posted a net profit of Rs 96.1 crore, the company said in a regulatory filing.The company’s revenue from operations fell 5.5% YoY to Rs 902.4 crore over Rs 954.5 crore. At the operating level, EBITDA dipped 0.3% to Rs 219.5 crore in the second quarter of this fiscal over Rs 220.1 crore in Q2 of FY24. The EBITDA margin stood at 24.3% in the reporting quarter compared to 23% in the prior-year period. EBITDA is earnings before interest, tax, depreciation, and amortisation.
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On Tuesday, HG Infra shares closed at Rs 1456.3, down 0.3% on the BSE, while the benchmark Sensex ended flat. The stock has surged 72% so far in 2024 and 150% over the past two years, with the company’s market capitalization now at Rs 9,491 crore.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
