H.G. Infra Engineering Limited has informed the Exchange regarding 'Intimation of Financial Close by H.G. Narol Sarkhej Highway Private Limited'.
HGINFRA · price
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H.G. Infra Engineering's wholly owned subsidiary, H.G. Narol Sarkhej Highway Private Limited, has achieved financial close for a road up-gradation project in Gujarat. The project involves upgrading a 10.63 km stretch of NH 47 from Narol Junction to Sarkhej Junction into a 6-lane road with an elevated corridor, to be executed on a Hybrid Annuity Mode basis. The project cost is INR 781.11 crore with a construction period of 30 months, and the financial close was dated April 18, 2025. The National Highway, R&B Department, Ahmedabad has formally noted this financial close.
This financial close paves the way for the subsidiary to commence construction and start recognizing revenue from the project, providing strong order book visibility for HGINFRA. At ~INR 781 crore, this single project is material relative to the company's annual revenue, supporting near-term earnings growth.