Shares of H.G. Infra Engineering are likely to remain in focus today after the infrastructure company announced that it will not consider two major Maharashtra expressway projects worth over ₹4,142 crore as part of its executable order book due to uncertainty surrounding their execution.
The development comes despite the company being declared the lowest bidder (L1) by the Maharashtra State Road Development Corporation (MSRDC) for two packages of the Nagpur–Chandrapur Access Controlled Super Communication Expressway project in Maharashtra.
According to the company’s regulatory filing, the bank guarantees submitted against bid security for the projects were unexpectedly returned by MSRDC without any explanation. Following this, H.G. Infra Engineering sought clarification from the authority regarding the status of the projects and the reasons behind the return of the guarantees. However, the company stated that it has not received any formal communication from MSRDC so far.
The two EPC projects include Package NC-04 from Chargaon to Nandgaon Kh in Chandrapur district, spanning 28.20 km, where H.G. Infra Engineering had submitted a bid project cost of ₹1,991.11 crore. The second project, Package NC-05 from Nandgaon Kh to Jogapur in Chandrapur district, covers 31.75 km with a bid project cost of ₹2,151.11 crore.
Together, the two projects carried a combined bid value of nearly ₹4,142 crore.
The company clarified that considering the prevailing uncertainty regarding project execution, it has decided, as a matter of prudence, not to include these projects in its executable order book until further clarity emerges from MSRDC.