GR Infraprojects bags new order worth Rs 1,085 crore from NHAI; stock zooms ~2%

21 Jun 2023 , 12:09 PM

GR Infraprojects Limited informed that it has received orders worth Rs 1,085.47 crore from the National Highways Authority of India (NHAI).

Following this development, the company’s counter rose as much as 4% in today’s trade at Rs 1,319 per piece.

At around 11.55 AM, GR Infraprojects was trading 2.09% higher at Rs 1,291.90 apiece, against the previous close of Rs 1,265.50 on NSE.

The company stated that the project entails expanding NH 530B from Kasganj Bypass End (currently at Km. 150.100 of NH 530B/Design Km. 123.100) to Chandan Nagar (currently at Km 96.200 of NH 530B/Design Km. 179.500) in Uttar Pradesh. The expansion will involve four lanes and will be carried out using the Hybrid Annuity Mode (HAM) on Package 3.

The company said the project is expected to be completed in 730 days from the appointed date and will remain operative for a period of 15 years from the date of commercial operation.

GR Infraprojects constructs infrastructure using both Engineering, Procurement, and Construction (EPC) as well as Built, Operate, and Transfer (BOT) approaches.

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