G R Infraprojects inked a concession deal with the National Highways Authority of India (NHAI) for a 12-lane Greenfield Varanasi-Ranchi-Kolkata Highway worth Rs 12.48 billion. The contract was signed by the company's wholly-owned subsidiary.
On July 5th, the share price closed at Rs 1,306.20, up 0.20% from the previous closing of Rs 1,303.55. During the day, the stock moved in a range of Rs 1,285.25 to Rs 1,338.85. The company's market capitalization was Rs 126.29 billion.
On July 5th, the stock outperformed the overall market, which closed in the green. The Sensex fell 0.05%, while the Nifty rose 0.05%.
The Company's fully owned subsidiary, GR Varanasi Kolkata Highway Private Limited, has inked a concession deal with the NHAI.
The project entails the construction of a 33.50-kilometer-long 6-lane Greenfield Varanasi-Ranchi-Kolkata Highway from Anarbansalea village to Sagrampur village in Bihar.
It should be mentioned that the project is a component of the Bharatmala Pariyojana and will be carried out using the Hybrid Annuity Mode (Package 7). The total project cost is Rs 12.48 billion.
The operating time is 15 years from the commercial operation date, and the completion period is 730 days from the appointed date.
The pipeline of GR Infraprojects appears to be in good shape. The business signed an engineering, procurement, and construction deal with the East Coast Railway on July 3rd for the construction of a tunnel between Adenigarh and Purunakatak. The project will be completed using the EPC model and will cost around Rs 5.87 crore.
Strong Corporate Governance is ensured through the incorporation of technology at every stage of construction, strong planning and monitoring, clearly defined processes, and digital project management.
G R Infraprojects Limited ("GRIL"), founded in 1995, has established a brand recognition as a focused EPC company with extensive experience and competence in delivering road and railway projects. It began its adventure in 1997 with the construction of a road project for the Public Works Department (PWD) of Rajasthan worth 265 lakhs. Over 100 road projects in 16 Indian states have been designed and built by the company.
See also:
NHAI seeks bids for Varanasi-Ranchi-Kolkata highway
Nitin Gadkari: National Highways grow 59% in 9 years
