H.G. Infra Engineering experienced a rise of 2.26%, reaching Rs 1,165.50, following the announcement of its qualification as a bidder for a significant battery energy storage project in Gujarat. In a regulatory filing, the company revealed that Gujarat Urja Vikas Nigam (GUVNL) has recognized it as a qualified bidder for a capacity of 300 MW/600 MWh out of the overall 500 MW/1000 MWh project.
This initiative entails the establishment of Standalone Battery Energy Storage Systems (BESS) as part of Phase-VI of GUVNL’s Tariff-Based Global Competitive Bidding process, with an anticipated execution period of 24 months.
H.G. Infra Engineering primarily focuses on the construction of roads and highways across various states, including Odisha, Telangana, Rajasthan, Delhi, Andhra Pradesh, Haryana, and Uttar Pradesh. The company holds an AA class accreditation from the Public Works Department (PWD) of the Government of Rajasthan (GoR) and is classified as an SS class contractor by the Military Engineer Services (MES).
In the third quarter of FY25, the company’s consolidated net profit rose by 12.9% to Rs 115.18 crore, compared to Rs 102.05 crore in the same quarter of FY24, although revenue from operations saw a decline of 7.3% year-on-year, totaling Rs 1,264.84 crore for the December 2024 quarter.
