- 13 Sep 2024
- ICICI Securities
HG INFRA BAGS PROJECT WORTH ₹716 CRORE FROM CENTRAL RAILWAY
News: H.G. Infra Engineering Limited has received a letter from the Central Railway regarding the appointed date for the project of construction of new BG line between Dhule (borvihir) to Nardana (approx 49.45 km) section of Central Railway on EPC mode. The bid cost of the project is ₹716.11 crore and is to be completed over 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 amounting ₹ 781 crore. the new orders further add to the revenue visibility ensuring that the order inflow guidance of ₹11000-12000 crore in FY25 is achievable. The company has a robust bid pipeline of ₹9000 crore worth of highway projects under bidding process. 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