Rs 15,080 Crore Order Book: Infra Company Receives Provisional Certificates for Projects Worth Rs 2,615.22 Crore in State of Odisha
The stock is up by 23.4 per cent from its 52-week low of Rs 921 per share and has given multibagger returns of over 500s per cent in 5 years.
H.G. Infra Engineering Limited (HGINFRA) has announced the receipt of provisional certificates for two significant infrastructure projects in the state of Odisha, collectively valued at Rs 2,615.22 crore. These certificates, received on April 28, 2025, were issued by the Independent Engineer on April 25, 2025, and signify that the projects are fit for commercial operation. The first project, undertaken by H.G. Raipur Visakhapatnam OD-6 Private Limited, a wholly-owned subsidiary, involves the development of a six-lane section of NH-130-CD between Baunsaguar and Baraja, spanning from km 203+000 to 338+558. This project, with a cost of Rs 1,123.11 crore, achieved provisional completion on January 8, 2025, ahead of its revised schedule of May 31, 2024.
The second project, executed by H.G. Raipur Visakhapatnam OD-5 Private Limited, another wholly-owned subsidiary, focuses on the development of another six-lane section of NH-130-CD between Kaliagura and Baunsaguar, stretching from km 249+000 to km 293+000. This project, with a total cost of Rs 1,492.11 crore, also received its provisional certificate, with a declared date of commercial operation readiness of January 4, 2025, surpassing its revised completion schedule of May 29, 2024. Both projects are part of the Raipur-Visakhapatnam Economic Corridor and are being developed on a Hybrid Annuity Mode. These developments were disclosed to the stock exchanges in compliance with SEBI regulations.
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About the Company
H.G. Infra Engineering Limited is one of the major Indian companies that are into Engineering, Procurement, and Construction (EPC) services, with a main focus on road infrastructure. The company has expanded its portfolio to include railways, metro, solar power, and water projects, and has completed more than 10 HAM projects and has 26 ongoing projects in 13 Indian states. As a result of this, HGINFRA is a pre-qualified bidder for large EPC and HAM projects and has been accredited as an AA-class contractor by the Government of Rajasthan and an SS-class contractor by the Military Engineer Services. As of Q3 FY25, the company has an order book of Rs 15,080 crore and the majority of the orders are for highway projects. Some of the company’s recent strategic moves include winning orders of the tune of Rs 8,200 crore in road, solar, and battery energy storage systems. The company plans to increase revenue by 17 per cent to 18 per cent and expects an order inflow of Rs 11,000-12,000 crore in FY25, with a focus on increasing its non-road project portfolio.
Order Book: The company’s order book stands at Rs 15,080 crore as of December 31, 2024. The orders are bagged from various clients across India, including National Highways Authority of India (NHAI), Adani, Delhi Metro Rail Corporation (DMRC), Ministry of Road Transport & Highways, Government of India (MoRTH), Maharashtra State Road Development Corporation (MSRDC), Central Railway (CR), South Central Railway (SCR), Rail Vikas Nigam Ltd (RVNL), Jodhpur Vidyut Vitran Nigam Limited (JDVVNL) and North Central Railway (NCR).
As of March 2024, Abakkus Emerging Opportunities Fund – 1 (owned by a renowned ace investor, Sunil Singhania) owns a 1.36 per cent stake in the company. The stock has an ROE of 24 per cent and an ROCE of 24 per cent. The stock is up by 23.4 per cent from its 52-week low of Rs 921 per share and has given multibagger returns of over 500s per cent in 5 years. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.