GR Infraprojects Ltd. won a contract from Maharashtra Metro Rail Corp. Ltd., Nagpur, on Wednesday for the construction of a metro project worth Rs 904 crore.
The company received a letter of acceptance for a project that involves designing and construction of an elevated metro viaduct with a length of 17.624 km, according to an exchange filing on Wednesday. This also includes a railway span of length 79 m and 100 m.
The company will also build a double-decker section with six lanes and a vehicular underpass with a total length of 1.14 km. The construction of the metro will take place through engineering, procurement, and construction mode within a timeframe of 30 months, the filings said.
In September, REC Power Development and Consultancy transferred the project-specific special purpose vehicle, Tumkur-II REZ Power Transmission Ltd., to G R Infraprojects.
G R Infraprojects Q1 Performance
In the quarter ended June 2024, GR Infraprojects' net profit declined 49.7% year-on-year to Rs 156 crore. Revenue for the second quarter of the current financial year 2025 also fell by 18.1% to Rs 2,030 crore.
The company's earnings before interest, taxes, depreciation, and amortisation were Rs 368 crore, denoting a 39.4% fall year-on-year. Its margin declined to 18.1% from 24.5%.
Shares of G R Infraprojects closed 2.28% higher at Rs 1,638.75 apiece, compared to a 0.12% fall in the benchmark NSE Nifty.
The stock has fallen 37.43% in the last 12 months and 43.22% year-to-date.
Out of 13 analysts tracking the company, two maintain a 'hold' rating, five recommend a 'buy', and six suggest a 'sell', according to Bloomberg data. The average 12-month analysts' consensus price target implies a downside of 1.9%.
RECOMMENDED FOR YOU
RVNL Bags Rs 838-Crore Contract From Eastern Railway
Nov 22, 2024
Mumbai Metro To Run Extended Services For Assembly Elections; Check Timings
Nov 19, 2024
RVNL Emerges As Lowest Bidder For Rs 270 Crore Project From Maharashtra Metro Authority
Oct 16, 2024
RITES Partners With Delhi Metro Rail For Metro Project Collaboration
Oct 03, 2024
POPULAR