- 15 Dec 2022
- ICICIdirect Research
HG INFRA SECURES HAM PROJECT WORTH 997 CRORE
HGINFRA - 1023 Change: -29.90 (-2.84 %)HG Infra Engineering has been declared as L-1 bidder by NHAI for the HAM project of construction of six-lane greenfield Karnal Ring Road starting from NH44 near Village Shamgarh and terminating at Karnal Munak Road Vill Samalakhal in Haryana. The bid project cost was at Rs 997.1 crore ( vs. NHAI's estimated cost of Rs 743.7 crore).
As on September 30, 2022, HG Infra’s order book was robust at Rs 10,851.6 crore (2.9x book to TTM revenues). With receipt of the recent job, the total order book has strengthened further. Overall, the company has guided for order inflows of ~Rs 9,000-10,000 crore during FY23 (already secured projects amounting to ~Rs 5,500 crore at YTD level). We believe the company is set to achieve the targeted inflows in FY23 to be driven by a strong order pipeline in roads segment and growing opportunities in the other infrastructure verticals.