Shares of HG Infra Engineering rose more than 8% on Wednesday after the company announced that it had secured a major infrastructure order valued at ₹401.33 crore. The contract has been awarded by Anuppur Thermal Energy (MP) Private Limited for railway infrastructure development linked to a large thermal power project in Madhya Pradesh.
The order involves execution of multiple civil works required for railway connectivity to the upcoming 2×800 MW thermal power project located in Anuppur. The scope of work includes earthwork, construction of bridges, station buildings and permanent way (P-way) works, which are essential for enabling rail-based logistics for the power facility.
The contract will be executed on an item rate or bill of quantities (BOQ) basis. According to the company, the project is expected to be completed within a period of 18 months from the commencement of work.
The order highlights the continued presence of HG Infra Engineering in large infrastructure development projects, particularly those connected to the power and railway sectors. Railway connectivity is a critical component for thermal power plants, as it ensures the efficient transportation of coal and other essential materials required for power generation.
In its regulatory disclosure, the company clarified that the contract is a domestic order and does not involve any promoter or group company interests in the entity awarding the project. It also confirmed that the transaction does not fall under related party transactions.