G R Infra spurts on emerging as L-1 bidder for Rs 1,227-cr project in UP

G R Infraprojects jumped 7.43% to Rs 1,040.95 after the company emerged as lowest (L‐1) bidder for tender invited by National Highways Authority of India (NHAI) for a road project amounting to Rs 1,226.87 crore in Uttar Pradesh.

The scope of the project entails four laning of NH 530B from Devinagar Bypass to Kasganj Bypass in the state of Uttar Pradesh on hybrid annuity mode.

The bid project cost stood at Rs 1,226.87 crore. The construction is expected to be completed in 730 days from appointed date and the operation period is 15 years from the commercial operation date.

Meanwhile yesterday, G R Infra announced that Dibang Power consortium, a joint venture between the company and Patel Engineering, has emerged as lowest bidder (L-1) for construction of civil works project in Arunachal Pradesh. The bid project cost is Rs 3,637.12 crore and the share of GR Infraprojects in the contract is 50%.

Further, the EPC company also announced that it has emerged as L‐1 bidder for the tender invited by National Highways Authority of India (NHAI) for a road project amounting to Rs 872.17 crore in Maharashtra.

G R Infraprojects is an integrated road engineering, procurement and construction (EPC) company largely focused on road sector. The company has also recently diversified into projects in the railway sector.

The company's consolidated net profit zoomed to Rs 323.65 crore in the quarter ended December 2022 as against Rs 145.48 crore during the previous quarter ended December 2021. Net sale rose 12.10% YoY to Rs 2,191.88 crore in Q3 FY23.

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