Intimation of the execution of concession agreement by Munger Link Highway Private Limited (wholly owned subsidiary) with the National Highways Authority of India.
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G R Infraprojects' wholly owned subsidiary Munger Link Highway Private Limited has executed a concession agreement with NHAI for constructing a 4-lane greenfield highway on NH-33 from Mokama to Munger in Bihar. The project is valued at Rs 2,440.87 crore (excluding GST) and will be executed under the Hybrid Annuity Mode. The construction period is 910 days from the appointed date. This is a significant infrastructure win for the company through its subsidiary.
This is a positive development for shareholders as the Rs 2,440.87 crore project represents a large order win, likely exceeding 20% of the company's annual revenue, which should boost future order book and revenue visibility.