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By EquityPandit

MARKETS

GR Infraprojects Shares Gain 3% on Securing Rs 262 Crore Project 

The company reported a 7.8% YoY increase in net profit to Rs 261.7 crore compared to Rs 242.7 crore.

Shares of G R Infraprojects Ltd rose by more than 3% on 30 January after the company emerged as the lowest bidder for the Western Railway project.

The project involves the gauge conversion of a 38.9 km railway track along with associated works, including earthwork, blanketing, ballast supply, and the construction of minor and major bridges. It also covers the development of office and service buildings, water supply and sanitation systems, platforms, and station amenities.

Additionally, the scope includes retaining walls, boundary walls, side drains, and complete track linking, with the procurement of materials and small track machines (excluding new rails) from chainage 9.2 km to 48.1 km. The project also entails work on 30 Road Under Bridges (RUBs) from Kosamba to Umarpada in the Vadodara division of Western Railways.

The contract has a value of Rs 262.28 crore and must be finished within 24 months of the appointment date.

The company’s board of directors will convene on 1 February 2025 to examine and authorize the unaudited standalone and consolidated financial statements for the quarter that concluded on 31 December 2024.

In December, a letter of intent for a Karnataka transmission project was sent to the company. An estimated Rs 107.7 crore would be spent on the project per year.

At 12:15 pm, the shares of GR Infraprojects were trading 2.80% higher at Rs 1,297 on NSE.

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