GR Infraprojects Ltd. on Thursday announced that it has emerged as the lowest bidder for a tender invited by the National Highways Authority of India (NHAI). The bid cost of the project stands at Rs 1,248.37 crore.

Share Market Live

NSE

The construction engineering company informed the bourses that it has been selected as the L-1 bidder after the financial bid opening on March 9 by the NHAI to build a 6-lane greenfield highway.

The scope of work of the project includes the construction of the Varanasi‐Ranchi‐Kolkata Highway from Anarbansalea village to Sagrampur village covering a total distance of 33.5 km under the Bharatmala Pariyojana in the state of Bihar on hybrid annuity mode.

The project will be completed within 2 years from the date of appointment, while the operation period will be 15 years from the commercial operation date.

Last week, the company secured a Letter of Award (LoA) from National Highways Logistics Management for a project worth an estimated Rs 758.1 crore to develop, operate, and maintain a Multi-Modal Logistics Park in Indore, Madhya Pradesh.

In the December quarter, GR Infraprojects’ profit surged over 120 percent at Rs 323.7 crore against Rs 146 crore in the same quarter last year, while its revenue rose by 12.1 percent to Rs 2,191.9 crore compared to Rs 1,955.3 crore in the year-ago period.

Shares of GR Infraprojects are trading 0.78 percent higher at Rs 1,037.

(Edited by : Rukmani Krishna)