G R Infraprojects Share Price Surges Following NHAI Contract Win

Market Performance

Shares of G R Infraprojects surged 11% in early trading on March 19, reaching a price of ₹1,042. This increase follows the company's successful acquisition of a significant contract from the National Highways Authority of India (NHAI).

NHAI Project Award

G R Infraprojects announced via an exchange filing on March 18 that it received a Letter of Acceptance (LoA) from NHAI, which operates under the Ministry of Road Transport & Highways. The contract, valued at ₹4,262.78 crore, pertains to the construction and enhancement of the Agra-Gwalior Greenfield Road.

Project Details

• The project focuses on developing a six-lane, access-controlled highway extending from Deori village in the Agra district to Susera village in the Gwalior district.
• It spans parts of Uttar Pradesh, Rajasthan, and Madhya Pradesh.
• It also includes overlay, strengthening, and safety enhancements on the existing NH-44 Agra-Gwalior section, covering chainage from km 1058.00 to 1148.00 (design chainage 13.00 to 103.00).
• The execution model follows DBFOT (Design, Build, Finance, Operate, and Transfer) under the NH(O) scheme, with operations conducted on a BOT (Toll) basis.

Other Developments

• In February, G R Infraprojects signed a Memorandum of Understanding (MoU) with the Government of Assam for the construction of a ropeway connecting Sonaram Field to Bhubaneshwar Temple in Kamakhya, Guwahati. The estimated project cost is ₹270 crore.
• In January, the company secured the lowest bid for a 38.9-kilometre rail project, valued at ₹262.28 crore.

Stock Price History

• Over the last six months, G R Infraprojects' stock declined by 43.50% after a significant rise between November 2023 and July 2024. During that period, the stock saw an 80% increase, reaching an all-time high of ₹1,860.

Company Overview

G R Infraprojects is engaged in constructing and maintaining roads, bridges, highways, and various civil infrastructure projects. The company has established a strong presence in northern and central India, with ongoing expansion into the western and southern regions. It functions through various project frameworks, such as the Engineering, Procurement, and Construction model and the Build, Operate, and Transfer (BOT) model.

Summary

G R Infraprojects witnessed a notable stock price increase following its ₹4,262.78 crore contract win for the Agra-Gwalior highway project. The company's recent project acquisitions, including a ropeway project in Assam and a rail infrastructure project, further strengthen its portfolio. Despite recent stock fluctuations, the company continues to expand its presence across multiple regions and infrastructure sectors.