G R Infra Hits 52-Wk Low; Lowest Bidder for Projects Worth Rs 1,613.8 Crore

By Malvika Gurung

Investing.com -- Shares of the construction engineering company G R Infraprojects hit a fresh 52-week low on Tuesday at Rs 930 apiece and were seen trading 5% lower at 2:10 pm.

The construction stock fell despite the company announcing on Tuesday that it has emerged as the L-1 bidder for two projects awarded by the National Highways Authority of India (NHAI).

This means that G R Infraprojects is the lowest bidder for two highway construction projects rolled out by NHAI. The total bid cost of these projects amount to Rs 1,613.84 crore.

Here are the details of the aforementioned two projects passed by NHAI in the state of Karnataka.

#1. Construction of a 4/6 lane bypass for Belagavi City from Km 11.773 (Km. 11 Goa side of NH‐4A) to Km 46.253 (Km. 516 Pune side of NH‐4) in Karnataka.

The project will be conducted on a Hybrid Annuity Mode (HAM) Package 1 at a bid cost of Rs 897.37 crore.

The completion period of the project is fixed at 912 days from the date of appointment, and the operation period is set as 15 years from the commercial operation date, GR Infraprojects (NS: GINF ) said on Tuesday.

#2. Construction of 4-lane with paved shoulders from Design Ch. 182.300 to Design Ch. 228.500 in the Belgaum-Hungund-Raichur section of NH‐748A in Karnataka under the NH(O).

It will be conducted on HAM Package‐5, at a bid cost of Rs 716.47 crore.

The completion period is 730 days from the appointed date, and the operation period is 15 years from the commercial operation date, the company added.