Infrastructure company GR Infraprojects Ltd on Tuesday (March 18) said it has received a letter of acceptance (LoA) from the National Highways Authority of India (NHAI) for a highway development project worth ₹4,262.78 crore.
“…we are pleased to inform you that our Company has received a Letter of Acceptance dated 18th March 2025 from National Highways Authority of India (Ministry of Road, Transport & Highways) for the following project,” GR Infraprojects said in a regulatory filing.
The contract involves the construction and improvement of the Agra-Gwalior greenfield road across Uttar Pradesh, Rajasthan, and Madhya Pradesh.
The project comprises two sections: The development of a six-lane access-controlled highway from Deori in Agra district to Susera in Gwalior district (88.4 km) and the overlay, strengthening, and safety improvements on the existing Agra-Gwalior section of NH-44 (1058 km to 1148 km).
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The project will be executed under the design, build, finance, operate, and transfer (DBFOT) model at BOT (toll) mode. The estimated completion period is 910 days from the appointed date.
Q3 performance
GR Infraprojects reported a 7.8% year-on-year (YoY) increase in net profit at ₹261.7 crore for the third quarter that ended December 31, 2024. In the corresponding quarter of the previous fiscal, GR Infraprojects posted a net profit of ₹242.7 crore.
The company’s revenue from operations fell 20.6% to ₹1,694.5 crore against ₹2,134 crore in the corresponding period of the preceding fiscal. At the operating level, EBITDA (earnings before interest, tax, depreciation, and amortisation) tanked 27.1% to ₹369.8 crore in the third quarter of this fiscal over ₹507.6 crore a year ago.
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The EBITDA margin stood at 21.8% in the reporting quarter versus 23.8% in the Q3 FY24.
Shares of GR Infraprojects Ltd ended at ₹940.35, up by ₹33.05, or 3.64%, on the BSE.
