Key Points of GR Infraprojects Orders Wins:
- GR Infraprojects has secured multiple contracts in the last two weeks, including a significant project worth Rs 587.59 crore.
- The company emerged as the lowest bidder for the tender invited by the East Coast Railway for the construction of tunnel work between Adenigarh – Purunakatak (153km to 180km) comprising of tunnel‐T4, T5, T6 & T7 and allied works of Khurda–Bolangir new rail line project.
- GR Infraprojects has also secured contracts for a National Highways Authority of India (NHAI) project worth Rs 1,248 crore and a project worth Rs 758.1 crore.
- The company’s net profit surged over 120 percent at Rs 323.7 crore in the last quarter, compared to Rs 146 crore in the same quarter last year.
- The revenue also saw a significant improvement, jumping nearly 12 percent at Rs 2,191.9 crore against Rs 1,955.3 crore in the same quarter last year.
- GR Infraprojects’ recent news has affected the market, with the company’s stock ending 0.3 percent lower at Rs 1,026.15 apiece on the BSE on Friday.
- The company’s recent wins and strong financial results are expected to boost its position in the construction engineering sector.
Details of GR Infraprojects Orders Wins:
GR Infraprojects Bags Multiple Contracts, Emerges as Lowest Bidder for Rs 587.59 Crore Project
GR Infraprojects, a leading construction engineering major, has made headlines in the last two weeks by securing multiple contracts. The company recently announced that it has emerged as the lowest bidder for a significant project worth Rs 587.59 crore.
In a recent exchange filing, the company stated that it has won the tender invited by the East Coast Railway for the construction of tunnel work between Adenigarh – Purunakatak (153km to 180km), comprising of tunnel‐T4, T5, T6 & T7, and allied works of Khurda–Bolangir new rail line project. The financial bid opening took place on March 17, 2023, and GR Infraprojects emerged as the lowest bidder.
Apart from this project, the company has also bagged several other contracts in the last few weeks. Last week, it emerged as the lowest bidder for a National Highways Authority of India (NHAI) project worth Rs 1,248 crore. At the beginning of the month, GR Infraprojects secured a project worth Rs 758.1 crore.
In the last quarter, GR Infraprojects reported its third-quarter earnings for this fiscal year, with its net profit surging over 120 percent at Rs 323.7 crore compared to Rs 146 crore in the same quarter last year. The company’s revenue also saw a significant improvement, jumping nearly 12 percent at Rs 2,191.9 crore against Rs 1,955.3 crore in the same quarter last year.
The market also reacted to the company’s recent news, with GR Infraprojects’ stock ending 0.3 percent lower at Rs 1,026.15 apiece on the BSE on Friday.
Overall, GR Infraprojects recent wins and strong financial results are expected to boost the company’s position in the construction engineering sector.
About GR Infraprojects:
With experience in designing and constructing various road/highway projects across 14 states in India, GR Infraprojects is an integrated road EPC company.
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