- 11 Dec 2024
- ICICI Securities
HG INFRA RECEIVED LOA FOR ROAD HAM WORTH ₹763 CRORE
News: HG Infra has received LOA from MoRTH for the project of improvement and upgradation in two lane with paved shoulders configuration of newly declared NH-227B in the state of Uttar Pradesh on HAM package VI. The bid cost of the project is ₹763.11 crore with a construction period of 2 years.
Views: The company was declared L1 bidder for the same in July 2024. HG infra's performance during Q2 was strong led by robust execution. Its order book stood at ₹16624 crore, 3x book to bill. It has already achieved order inflows totaling ~ ₹6300 crore as of Q2FY25, it has recently bagged two solar projects worth over ₹470 crore which further add to the revenue visibility. Given the robust ordering momentum coupled with healthy pipeline of road projects, the company is poised to achieve its execution outlook of ₹11000-12000 crore for FY25.
Impact: Positive