GR Infraprojects secures new project from NHAI on hybrid annuity mode; stock climbs ~1.5%

24 Mar 2022 , 03:41 PM

GR Infraprojects Limited has informed that it has received a Letter of Award dated 24th March 2022 from the National Highways Authority of India for 4-Laning of Ujjain-Badnawar Section of NH-752D from km 26.900 to km 96.00 (Length-69.1 km) in the State of Madhya Pradesh on Hybrid Annuity Mode.

The completion period of the said project is 730 days from the appointed date. Whereas, the operational period for the same shall be 15 years from the commercial operation date.

The project is received in hybrid annuity mode under which the payment will be received in multiple installments annually, depending upon the cost of the project and tenure as decided.

G R Infraprojects ended at Rs1,460 up by Rs17.40 or 1.21% from its previous closing of Rs1,442.60 on the NSE. It touched today’s high and low of Rs1,460 and Rs1,434.05 respectively.