HG Infra secures an NHAI deal for Rs. 997 crore, sending its stock up 8%.

The project is to build a six-lane, greenfield Karnal Ring road in Haryana that runs from NH44 close to the village of Shamgarh to Karnal Munak Road Vill Samalakhal.

Cost of the project under bid was Rs. 997.1 crore. Earlier this month, the company had been designated L1 for the same.

As of 09:16 AM, the S&P BSE Sensex had increased 0.18 percent, while the civil construction company’s stock had increased 7.0% to Rs 613.70.

H G Infra reported a 9% year-over-year (YoY) increase in its consolidated net profit for the first half (April to October) of the current fiscal year 2022–23 (H1FY23), coming in at Rs 191 crore. At Rs 1,902 crore, operating revenue increased 10% year over year. Ebitda margin (earnings before interest, taxes, depreciation, and amortisation) decreased 30 basis points from H1FY22 to H2FY23 to 18.9 percent.

As of September 30, 2022, the company had a total secured order book worth Rs 10,851 crore. According to the business, 64% of these orders were for EPC projects, and 36% were for HAM projects.

The management is highly optimistic about the sector’s future and business possibilities in the second half of this fiscal year, according to guidance on the bidding outlook and business opportunities. “It is anticipated that the tendering will show a strong pickup, giving us the chance to win new projects and substantially increase our order book. We are all aware that the government is undertaking several initiatives for various infrastructure development programmes, such as the national infrastructure pipeline and the Gati Shakti programme, which will propel this industry and provide ample chances for players like us.

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