HG Infra Engineering’s stock was buzzing in early Monday trade, climbing over 5% after the company announced a major win that grabbed investor attention. The infrastructure player has emerged as the L-1 bidder for a ₹1,415 crore metro project awarded by the Maharashtra Metro Rail Corporation Limited (MMRCL).
In its exchange filing, HG Infra said it secured the project in joint venture with Kalpataru Projects International Ltd. Under the partnership, Kalpataru will take up 60% of the work while HG Infra will handle the remaining 40%.
The contract is part of the ambitious Thane Integral Ring Metro Project, involving the design and construction of a 20.5 km elevated metro viaduct from the UG Ramp to Balkum Naka. It also includes the depot approach viaduct and three special spans. The project will follow the EPC (Engineering, Procurement & Construction) route.
While MMRCL had pegged the project cost at around ₹1,424 crore, the winning JV quoted ₹1,415 crore. The entire work is scheduled to be completed in 36 months.
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