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News: HG Infra reported standalone revenue at ₹ 1064.5 crore, up 22.4% YoY led by strong execution. EBITDA at ₹174.3 crore was up 26.2% YoY along with margins at 16.4%, up 49 bps YoY led by healthy operating leverage. PAT was reported at ₹ 88.5 crore, up 44.2% YoY.
Views: HG Infra’s performance was strong during the quarter led by robust execution driving the topline performance (surpassing guidance of 18-20% growth) and expanding margins (in-line with guidance of 16%). Its order book as of Q1 FY25 stood at ₹ 15642 crore (2.9x TTM book to bill) it expects to achieve ₹ 11000-₹ 12000 crore of order inflows in FY25. The strong ordering momentum ensures that the company’s execution outlook will be met. We await management commentary on growth and margins outlook ahead.
Impact: Positive