GR Infraprojects executes agreement with NHAI for a project worth ₹1,248.37 cr
G R Infraprojects on Wednesday signed a concession agreement with the National Highways Authority of India (NHAI) for a 6-lane Greenfield Varanasi-Ranchi-Kolkata Highway project aggregating to ₹1248.37 crore. The agreement was inked through the company’s wholly-owned subsidiary. The stock ended in the green following the development.
The share price closed at ₹1,306.20 on 5th July, up by 0.20% from its previous close of ₹1,303.55. The stock traded in a range of ₹1,285.25 to ₹1,338.85 during the day. The market capitalization of the company stood at ₹12,629.52 crore.
The stock’s performance on 5th July was better than the broader market, which closed in the green. The Sensex dipped by 0.05% and the Nifty gained 0.05%.
GR Varanasi Kolkata Highway Private Limited, a wholly owned subsidiary of the Company, has signed a concession agreement with the NHAI.
The project involves the construction of a 6-lane Greenfield Varanasi-Ranchi-Kolkata Highway from Anarbansalea village to Sagrampur village in Bihar, with a total length of 33.50 km.
It needs to be noted that the project is part of the Bharatmala Pariyojana and will be implemented under the Hybrid Annuity Mode (Package 7). The cost of the project cost is at ₹1248.37 crore.
The operating time is 15 years from the commercial operation date, and the completion period is 730 days from the appointed date.
GR Infraprojects’ pipeline looks healthy. On July 3rd, the company executed the engineering procurement and construction agreement with the East Coast Railway for construction of tunnel work between Adenigarh – Purunakatak. The project is costing around ₹587.59 crore and will be done under EPC mode.
Integration of technology at every step of construction, strong planning & monitoring, clearly defined processes, and digital project management ensures robust Corporate Governance.
Incorporated in 1995, G R Infraprojects Limited (“GRIL”) has been able to create a brand reputation as a focused EPC player with significant experience and expertise in executing road as well as railway projects. It started journey its with the construction of a road project for the Public Works Department (PWD), Rajasthan with a value of 265 Lakhs in 1997. The company has designed and constructed over 100 road projects across 16 states in India.
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Updated: 05 Jul 2023, 06:45 PM IST
