Shares of HG Infra Engineering Ltd rallied 6% on 13 September after the company secured a Rs 716 crore Central Railway project in Maharashtra.

The scope of the project involved constructing a new broad gauge railway between Dhule (Borvihir) and Nardana in Maharashtra. The railway will be around 49.45 kilometres long and will be executed under the engineering and procurement contract (EPC) mod, and the project will be completed in 30 months.

The Ministry of Road Transport & Highways awarded the construction company another project earlier this week costing Rs 780 crore to upgrade NH-47.

The contract includes the improvement of 10.630 km of National Highway 47 (NH-47) in Gujarat between the Narol and Sarkhej junctions. This project involves the construction of an elevated corridor, which is being carried out under the hybrid annuity model (HAM). It is expected to take 2.5 years to complete.

Lately, HG Infra has been quite successful, consistently landing large contracts. 

In August, the company emerged as the lowest bidder for a second road improvement project in Gujarat. The Ministry of Road Transport and Highways estimated that the project would cost Rs 883.24 crore. However, HG Infra’s winning bid was for Rs 781.11 crore.

At 12:31 pm, the shares of HG Infra Engineering were trading 5.58% higher at Rs 1,585.50 on NSE. 

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