Market Movers: GR Infraprojects Gains NHAI Project Amidst Sectoral Updates

GR Infraprojects secured a significant infrastructure project. The company has been declared the winning bidder for the Agra-Gwalior Greenfield Road project by the National Highways Authority of India (NHAI), under the Ministry of Road Transport & Highways. The project, valued at ₹4,262.78 crore, will be executed on a Design, Build, Finance, Operate & Transfer (DBFOT) basis, operating on a BOT (Toll) model.

The scope of work encompasses the construction of a six-lane, access-controlled greenfield highway extending from Deori village in Agra to Susera village in Gwalior. This infrastructure development will span across the states of Uttar Pradesh, Rajasthan, and Madhya Pradesh. Furthermore, the project includes the overlaying, strengthening, and safety improvements of the existing Agra-Gwalior (NH-44) section. The stipulated completion period for this substantial undertaking is 910 days from the appointed date. The regulatory filing from GR Infraprojects confirmed the company's selection as the winning bidder following the financial bid opening on 13th March 2025.

In terms of recent financial performance, GR Infraprojects reported a 7.8% year-on-year increase in net profit for the third quarter ending 31st December 2024, reaching ₹261.7 crore compared to ₹242.7 crore in the corresponding period of the previous fiscal year. However, the company's consolidated revenue from operations witnessed a decline of 20.6% year-on-year, amounting to ₹1,694.5 crore against ₹2,134 crore in the same quarter last year. The company's EBITDA also fell by 27.1% to ₹369.8 crore in the latest quarter, down from ₹507.6 crore in the year-ago period.

Following the announcement, the shares of GR Infraprojects Ltd opened at ₹1,014.65 on the NSE, registering an upside of  ₹55.60, or 5.80%, on 17th March.

This significant project win for GR Infraprojects adds to the ongoing developments within the infrastructure sector. Investors will likely assess the potential long-term impact of this project on the company's revenue streams and overall growth trajectory, alongside its recent financial performance. The DBFOT model with toll operation suggests a sustained revenue generation potential for the company upon the project's completion.

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