H.G. Infra Engineering Ltd Share Price – NSE /  BSE

Infrastructure Developers & Operators, Small Cap

H.G. Jetpur Solar Project, incorporated on 23 June 2024, is based in Rajasthan, India. Its primary objective is to carry out business in the field of solar power.

According to the regulatory filing, the company has acquired 28,40,000 equity shares of Rs 10 each for a total amount of Rs 2.84 crore in H.G. Jetpur Solar Project, a subsidiary of the company, through the subscription of a rights issue.

The investment aims to support the expansion of the subsidiary’s business and facilitate the establishment of solar power plants. The acquisition, which was completed on 23 December 2024, falls under the category of related-party transactions as H.G. Jetpur Solar Project is a subsidiary of company.

The company confirmed that, apart from the shares held in H.G. Jetpur Solar Project, the promoter/promoter group or group companies do not have any other interest in the transaction.

Additionally, the company announced that its wholly owned subsidiary, H.G. Banaskantha BESS, entered into a Battery Energy Storage Purchase Agreement with NTPC Vidyut Vyapar Nigam on 23 December 2024, for the procurement of 185 MW/370 MWh on a long-term basis.

H.G. Infra Engineering is primarily engaged in the business of engineering, procurement, and construction (EPC) relating to roads, bridges, flyovers, and infrastructure contract works and related activities.

The company reported 16.01% decline in consolidated net profit to Rs 80.73 crore in Q2 FY25 as compared to Rs 96.12 crore posted in Q2 FY24. Revenue from operations declined 5.46% YoY to Rs 902.40 crore in the quarter ended 30 September 2024.

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The scope of the project entails improvement and up-gradation in two lane with paved shoulders configuration of newly declared NH227B Bahuvan Madar Majha to Jagarnathpur ‘84 Kosi Parikrama Marg’ in Uttar Pradesh on HAM Package VI.

MORTH’s estimated cost of the project is Rs 898.5 crore and the company's bid project cost is Rs 763.11 crore. The completion period is estimated to be 2 years.

H.G. Infra Engineering is primarily engaged in the business of engineering, procurement, and construction (EPC) relating to roads, bridges, flyovers, and infrastructure contract works and related activities.

The company reported 16.01% decline in consolidated net profit to Rs 80.73 crore in Q2 FY25 as compared to Rs 96.12 crore posted in Q2 FY24. Revenue from operations declined 5.46% YoY to Rs 902.40 crore in the quarter ended 30 September 2024.

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H.G. Infra Engineering has been declared as a qualified bidder by the Gujarat Urja Vikas Nigam for 250 MW/500 MWH out of the project for setting up of 500 MW/1000 MWh Standalone Battery Energy Storage Systems in Gujarat under Tariff-Based Global Competitive Bidding (Phase-IV) with Viability Gap Funding Support.

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The project involves the procurement and setup of 500 MW/1000 MWh of standalone battery energy storage systems in India, with viability gap funding support.

As part of the contract, the company will be responsible for handling 185 MW/370 MWh of the total capacity at a tariff rate of Rs 2,38,000 per MW per month. The project is scheduled for completion within 1.5 years.

H.G. Infra Engineering is primarily involved in the construction of roads and highways in Odisha, Telangana, Rajasthan, Delhi, Andhra Pradesh, Haryana, and Uttar Pradesh. HGIEL is accredited AA class by the Public Works Department (PWD) of the Government of Rajasthan (GoR) and is registered as an SS class contractor by the Military Engineer Services (MES).

The company reported 16.01% decline in consolidated net profit to Rs 80.73 crore in Q2 FY25 as compared to Rs 96.12 crore posted in Q2 FY24. Revenue from operations declined 5.46% YoY to Rs 902.40 crore in the quarter ended 30 September 2024.

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