GR Infraprojects shares zoom 7% on bagging Rs 4,263 crore project from NHAI

Shares of GR Infraprojects zoomed 6.9% to an intraday high of Rs 1,024.45 on the BSE in early trade today after the company emerged as the selected bidder for a project worth Rs 4,263 crore from the National Highways Authority of India (NHAI).

The project involves the construction of the Agra-Gwalior Greenfield Road, which is divided into two sections.

Section one involves the development of a 6-lane, access-controlled Agra-Gwalior Greenfield highway, starting from design kilometer 0+000 (near the village Deori in Agra district) to design kilometer 88+400 (near the village Susera in Gwalior district), spanning across the states of Uttar Pradesh, Rajasthan, and Madhya Pradesh.

Section two involves overlaying/strengthening, road safety improvements, and other enhancements on the existing Agra-Gwalior section of NH-44, from kilometer 1058.00 to 1148.00 (design chainage 13.00 to 103.00), located in Uttar Pradesh, Rajasthan, and Madhya Pradesh, following the DBFOT pattern under the BOT (Toll) Mode as part of the NH(O) scheme.

The completion period for the given project is 910 days from the appointed date.

Shares of the company fell 22.5% and underperformed its sector by 21.37% in the past year. Meanwhile, the stock dropped 33.7% in the last three years. According to Trendlyne data, G R Infraprojects has worse one year returns than Nifty50, Sensex, sector and industry. GR Infraprojects is involved in the construction of infrastructure facilities on an Engineering, Procurement, and Construction (EPC) basis, as well as on a Built, Operate, and Transfer (BOT) basis. The company also handles road infrastructure development projects through Special Purpose Vehicles (SPVs), in line with the terms of concession agreements.