HG Infra Engineering share price up 5% on securing Rs 716-crore work order
Source: Business Standard
HG Infra shares rise: Shares of construction engineering company HG Infra Engineering rose as much as 4.50 per cent to hit an intraday high of Rs 1,570 per share on Friday, September 13, 2024.
The HG Infra share price rose after the company received a letter from the Central Railway regarding the appointed date for the Rs 716-crore project.
In an exchange filing, HG Infra said, “We wish to inform you that HG Infra Engineering Limited has received a letter from the Central Railway regarding the appointed date for a project.”
The appointed date is September 4, 2024, the company revealed.
According to the project details, HG Infra will be responsible for construction of the New BG line between Dhule (Borvihir) to Nardana (approximately 49.45 Km) section of Central Railway on Engineering & Procurement (EPC mode).
The company will be required to complete the project in 30 months or 2.6 years.
HG Infra Engineering is engaged in engineering, procurement and construction (EPC) business including maintenance of roads, bridges, flyovers and other infrastructure contract works.
Q1 financial performance
HG Infra’s revenue or topline grew 13 per cent annually to Rs 1,528 crore in Q1FY25, from Rs 1,351 crore in the same quarter a year ago (Q1FY24).
The company’s net profit jumped over 8 per cent Y-o-Y to Rs 162.6 crore in the June quarter of FY25, from Rs 150.4 crore in the same quarter last year (Q1FY24).
Earlier this week, the company secured a Letter of Award from the Ministry of Road Transport & Highways (MoRTH) for a project worth Rs 781 crore.
The market capitalisation of the company is Rs 10,131.50 crore, according to Bombay Stock Exchange (BSE). The company falls under the SmallCap category.
The 52-week high of HG Infra share is Rs 1,880 while its 52-week low is Rs 806 apiece.
At 9:53 AM, the HG Infra shares were trading 3.92 per cent higher at Rs 1,561.15. In comparison, the BSE Sensex was trading 0.19 per cent lower at 82,801.23 levels.
First Published: Sep 13 2024 | 10:01 AM IST
