Shares of HG Infra Engineering Ltd are trading flat after touching the day’s high of Rs 609.95 on 25th February, even as the company announced that it has been declared the L-1 bidder by the National Highways Authority of India (NHAI) for the construction of a new six-lane access-controlled Capital Region Ring Road (Package-III) project in Odisha under the hybrid annuity mode (HAM).

The project involves constructing a 40.33 km stretch from Gobindpur (NH-55) to Tangi near Bandola Toll Plaza (NH-16) in Odisha under NH(O).

The estimated project cost is Rs 1,827.33 crore. HG Infra’s bid stands at Rs 1,582.11 crore, excluding GST. The construction period is 910 days, and the contract has been awarded to a domestic entity.

The company clarified that neither its promoter nor its group companies have any interest in the awarding authority. It also confirmed that the order is not a related party transaction.

For the December quarter, net profit rose 12.8% YoY to Rs 115 crore from Rs 102 crore last year.

EBITDA increased 25.7% YoY to Rs 286.9 crore, compared to Rs 228.3 crore in Q3FY24. EBITDA margin improved to 22.7% from 16.7% last year, reflecting strong margin expansion.

However, revenue fell 7.3% YoY to Rs 1,264.8 crore from Rs 1,364.5 crore in the year-ago quarter.

At 1:15 PM, shares of HG Infra were trading 0.58% lower at Rs 565.70 on the NSE.

Ready to invest like a pro? Tradz by EquityPandit equips you with 100+ Free tools and knowledge you need to succeed. Download the Tradz app and gain access to daily stock lists and insightful market analysis and much more!