News: GR lnfraprojects was earlier declared as L-1 bidder for part of Noida - Greater Noida Metro Rail Project. However, the tender has been cancelled by Noida Metro Rail Corporation Ltd due to some administrative reasons.
Views: Considering robust order book position of Rs 20,210 crore (including L1 and recently secured projects; as of Q4 FY22 end), the cancellation of the project unlikely to have major impact on its overall order book position (bid project cost for the metro job was Rs 593 crore). However, the company's diversification plan towards metro project has impacted with this order cancellation.
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