Shares of HG Infra Engineering Ltd surged more than 2% on 12 June after the company emerged as the lowest Bidder (L1) for a project in Odisha. 

In its regulatory filing, the company said that they have been declared as the lowest bidder for the transmission service provider to establish the interstate transmission system for the Eastern Region Generation Scheme – I (ERGS-I) through a tariff-based competitive bidding process in Odisha.

PFC Consulting, a wholly owned subsidiary of Power Finance Corporation, awarded the contract to the company on a construct, own, operate, and transfer (BOOT) model. The contract’s total consideration is Rs 431.11 million in tariffs per year, with a completion date of 28 March 2028.

In May, the company got a Letter of Intent (LOI) from Gujarat Urja Vikas Nigam for 300 MW/600 MWh of a 500 MW/1000 MWh project to establish Standalone Battery Energy Storage Systems in Gujarat through Tariff-Based Competitive Bidding (Phase-VI).

The company recorded a 22.6% reduction in its consolidated Q4FY25 profit at Rs 147 crore compared to Rs 190 crore the previous year, while revenue fell 20.3% to Rs 1,360.9 crore versus Rs 1,708.3 crore YoY.

However, at 12:30 pm, the shares of HG Infra were trading 0.12% lower at Rs 1,102 on NSE. 

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