G R Infraprojects rose 2.42% to Rs 1,436 after the company's wholly owned subsidiary, GR Madanapalli Pileru Highway, executed concession agreement with National Highways Authority of India (NHAI) for Rs 1,577 crore.
The agreement constitutes construction of four lanning of NH-1 from Madanapalli to Pileru and package-1 on hybrid annuity mode (HAM) in Andhra Pradesh under Bharatmala Pariyojna.The completion of the project is expected to be within 730 days from appointed date. The operational period stands for 15 years from commercial operation date.
G R Infraprojects is an integrated road engineering, procurement and construction (EPC) company largely focused on road sector. The company has also recently diversified into projects in the railway sector.
The road construction company's consolidated net profit rose 8.9% to Rs 276.56 crore on a 12.4% drop in net sales to Rs 2,396.11 crore in Q4 FY22 over Q4 FY21.
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