H.G. Infra Engineering Limited has informed the Exchange regarding 'Update on Projects awarded by Maharashtra State Road Development Corporation (MSRDC)'.
HGINFRA · price
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H.G. Infra Engineering was declared L1 bidder for two road construction packages (NC-04 and NC-05) under the Nagpur-Chandrapur Expressway project with a combined bid value of Rs 4,142.22 crore. The company had submitted bank guarantees for these projects, but MSRDC unexpectedly returned them without providing any reasons. Despite seeking clarification from MSRDC, no formal response has been received. Given the uncertainty, the company has decided not to include these projects in its executable order book until clarity emerges.
This is a negative development as two major road projects worth over Rs 4,100 crore are now in limbo. The return of bank guarantees without explanation raises questions about whether these projects will proceed, potentially impacting the company's future order book and revenue visibility.