- 25 Sep 2024
- ICICI Securities
HG INFRA BAGS ORDER WORTH ₹610 CRORE
News: HG Infra received letter from NHAI regarding the declaration of appointed date for the project of Construction of 4 lane Elevated corridor of Kalimandir- Dimna Chowk- Baliguma (Jamshedpur) Section of NH-33 (New NH-18) on EPC mode in the state of Jharkhand for a bid project cost of ₹610.11 crore. The project is to be constructed within a period of 30 months.
Views: The company's order book stood at ₹15642 crore (2.9x book to bill). It had recently received LOA from MoRTH and appointed date from Central railway amounting ₹781 crore and ₹716 crore respectively. The new orders further add to the revenue visibility as the ordering momentum ensures that the order inflow guidance of ₹11000-12000 crore in FY25 is achievable. Considering the strong order book, robust execution coupled with strong balance sheet and healthy return ratios, HG Infra is poised for growth ahead.
Impact: Positive