- 31 Mar 2023
- ICICIdirect Research
GR Infra emerges lowest bidder for two HAM projects worth Rs 1589 crore
GRINFRA - 1131 Change: -4.75 (-0.42 %)News: GR Infra was declared the L‐1 (lowest) bidder for the two projects of National Highways Authority of India (NHAI) worth Rs 1589 crore on hybrid annuity mode. The first order is construction of 44.9 km of a four lane with paved shoulders from in Belgaum – Hungund – Raichur Section on Hybrid Annuity Mode (Package‐6) under NH (O) with a project cost of Rs 740.8 crore. The other project is construction of four‐lane access controlled greenfield highway section of NH‐163G (Warangal‐Khammam) from Venkatpur village in Warangal District to Thallasenkesa Village in Mahabubabed District under NH(O). The project cost is Rs 847.9 crore
Views: The inflows will improve revenue visibility. We highlight that Q3 order book was Rs 14073 crore, 1.7x book to bill and the company has guided for order inflows worth Rs 15000 crore in Q4 . So, far it has received orders worth ~Rs 13000+ crore in Q4. Nonetheless, margins in newer segment will be key monitorable
Impact: Positive