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HG Infra Engineering receives order worth Rs 1,060 crore from NHAI

Ganesh V
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HG Infra Engineering receives order worth Rs 1,060 crore from NHAI

HG Infra Engineering Ltd announced Thursday after the market hours that it has been declared as L-1 (lowest) bidder by National Highways Authority of India (NHAI) for a road project in Andhra Pradesh.  

The project is for the development of a six-lane Aluru-Jakkuva section of NH-130-CD road under the Raipur-Visakhapatnam economics corridor. The length of the project is 31.767 km and it is to be completed within a period of 730 days.

Reacting to this, the company’s stock today increased by 6.64 per cent and made an intraday high of Rs 298.75 per share at 9.52 am. On a YTD basis, HG Infra Engineering has gained 33.05 per cent. 

Besides, the company reported a net profit of Rs 67.76 crore in Q3FY21. It had reported a profit of Rs 36.87 crore in Q3FY20, which is an increase of 83.77 per cent. The company reported net sales of Rs 750.74 crore for Q3FY21, an increase of 31.37 per cent as against the net sales of Rs 571.49 crore for Q3FY20.  

HG Infra Engineering is engaged in the business of engineering, procurement & construction (EPC) as well as maintenance of roads, bridges, flyovers, and other infrastructure contract works.   

According to BSE data, the stock traded at a P/E multiple of 11.10 and a price-to-book ratio of 2.10. The stock has a 52-week high and a 52-week low of Rs 330.45 and Rs 143.15, respectively.  

At the time of market closing on Friday, the stock of the company was trading at Rs 290.20, up by 3.59 per cent on BSE.  

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