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HG Infra Engineering Ltd. has been declared as the lowest bidder for a construction project worth Rs 398.63 crore by the Delhi Metro Rail Corporation Ltd. (DMRC).

The scope of the project involves the part design and construction of an elevated viaduct and four elevated stations -- Eshopur, Paschim Vihar, Peeragarhi, and Mangolpuri -- from P2 to PP88 and from P103 to Mangolpuri Station of Janakpuri West to RK Ashram Corridor of Phase- IV of Delhi MRTS.

The construction and infrastructure engineering company's bid was Rs 412.11 crore, while DMRC's estimated cost for the project was Rs 398.63 crore.

The construction of the project is scheduled to be completed in 24 months.

Also Read: HG Infra Engineering emerges L1 bidder for Rs 997 crore NHAI project; shares surge 7%

Last week, the company received a letter of award (LOA) from the National Highways Authority of India (NHAI) for a project in Haryana.

HG Infra will construct a 6-lane Greenfield Karnal Ring Road starting from NH44 near Shamgarh village and ending at Karnal-Munak Road near Samalkha village under Bharatmala Pariyojana.

The company's total revenue for the first half of the current financial year was Rs 1,817.74 crore, an increase of 9.05 percent as compared to Rs 1,666.81 crore in the year-ago period. Profit after tax (PAT) stood at Rs 162.3 crore as compared to Rs 158.8 crore during the same period last year.

Shares of HG Infra are trading 0.71 percent higher at Rs 624.30.

(Edited by : Rukmani Krishna)