Rs 9,626 crore order book: This multibagger construction stock bags new order worth Rs 709 crore railway project in Bihar!
Shares of the company gained more than 25 per cent in the last one year.
H.G. Infra Engineering Limited (HGINFRA) has emerged as the lowest bidder for a major railway infrastructure project in Bihar. This significant win strengthens their position in the Indian railway infrastructure development sector and contributes to improved regional connectivity.
The project involves constructing a double line track (3rd & 4th line) along a 66.88 km stretch between Gaya and Son Nagar. Valued at an estimated Rs. 772.70 crore, the project will be executed under the Engineering, Procurement, and Construction (EPC) mode. HGINFRA submitted a bid of Rs. 709.11 crore and is expected to complete the project within 36 months.
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The project scope encompasses various aspects, including earthwork, blanketing, construction of minor and major bridges, electrification works, and other miscellaneous tasks. This win signifies HGINFRA's growing expertise and capabilities in handling large-scale infrastructure projects.
Furthermore, HGINFRA's financial performance in Q3FY24 reflects continued growth. Compared to the previous year's corresponding quarter, consolidated revenue witnessed a 15.15 per cent increase to Rs. 1,364.53 crore. Operating profit and net profit also grew, reaching Rs. 232.16 crore and Rs. 101.09 crore, respectively. This robust financial performance strengthens HGINFRA's position as a key player in the Indian infrastructure development sector.
HG Infra is a road infrastructure company engaged in the business of engineering, procurement and construction (EPC) services, maintenance of roads, bridges, flyovers and other infrastructure contract works. The stock has delivered multibagger returns of over 200 per cent return in the last three years.
The stock has shown tremendous growth, and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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