Shares of GR Infraprojects Ltd. were trading with gains of as much as 10% on Wednesday, March 19, after the company received Letter of Acceptance for a National Highways Authority of India (NHAI) project worth ₹4,262.78 crore.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 project is scheduled to be completed within 910 days, the company said in an exchange filing.
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 project is scheduled to be completed within 910 days, the company said in an exchange filing.
Based on the December quarter shareholding pattern, promoters of GR Infraprojects held 74.70% stake in the company.
The GR Infraprojects stock is currently trading 8.68% higher on Wednesday at ₹1,022.30. The stock has fallen over 30% on a year-to-date basis.
