HG Infra Engineering Ltd on Tuesday (February 11) said the company in a joint venture with DEC Infrastructure and Projects (India) Pvt Ltd, has secured a ₹2,195.68-crore contract from the Rail Land Development Authority (RLDA) for the redevelopment of New Delhi Railway Station.
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“…we are pleased to inform you that H.G. Infra Engineering Limited (the “Company” or “HGINFRA”) jointly with D.E.C. Infrastructure and Projects (India) Private Limited has received the letter of acceptance from Rail Land Development Authority (RLDA), New Delhi on February 10, 2025,” HG Infra Engineering said in a regulatory filing.
The company received the letter of acceptance (LoA) on February 10, 2025. The project, awarded under the engineering, procurement, and construction (EPC) mode, involves the redevelopment of the station along with associated infrastructure. The estimated cost by RLDA was ₹2,469 crore, and the construction period is set at 45 months.
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HG Infra Engineering reported a 12.8% year-on-year (YoY) rise in its net profit, which stood at ₹115 crore for the December quarter, compared to ₹102 crore in the same period last year. The company’s EBITDA grew 25.7% YoY to ₹286.9 crore, up from ₹228.3 crore in Q3FY23, indicating strong operational performance.
However, revenue saw a 7.3% decline, coming in at ₹1,264.8 crore, down from ₹1,364.5 crore in the year-ago quarter. Despite the revenue contraction, HG Infra delivered significant margin expansion, with the EBITDA margin improving to 22.7% from 16.7% last year.
Shares of HG Infra Engineering Ltd ended at ₹1,170.10, down by ₹64.75, or 5.24%, on the BSE.
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