G R Infraprojects stock in focus after securing ₹290 Cr EPC contract for Giridih Bypass Project

Published 08-12-2025, 12:37 pm
Updated 08-12-2025, 05:45 pm
© Reuters.

Synopsis:
G R Infraprojects Limited, a leading EPC road construction company, has secured a Rs. 290.23 crore contract from the State Highways Authority of Jharkhand for the 26.672 km Giridih Bypass, scheduled for completion in 24 months.

This company is an integrated road Engineering, Procurement, Construction company (EPC) with experience in the design and construction of various road/highway projects across 15 States in India is now in the focus after an EPC agreement with State Highways Authority of Jharkhand.

With market capitalization of Rs. 10,169 cr, the shares of G R Infraprojects Limited are currently trading at Rs. 1,050 per share, making a high of Rs. 1,060, from its previous close of Rs. 1,054.90 per share.

About the agreement

On 4th December 2025, G R Infraprojects Limited executed an Engineering, Procurement, and Construction (EPC) Agreement with the State Highways Authority of Jharkhand for the construction of the Giridih Bypass road, extending towards Tundi, with a total length of 26.672 kilometers.

The project has a bid cost of Rs. 290.23 crore and will be executed under the EPC model, which entails that G R Infraprojects Limited will be responsible for the complete design, procurement of materials, and construction of the road. The project is scheduled to be completed within 24 months from the appointed date.

Order book stands at Rs. 21,114.9 cr as of September 30,2025. The project mix shows the majority of projects (65%) are in the Road sector, followed by Transmission projects at 13%. Smaller portions are allocated to Railway & Metro (4%), Tunnel works (1%), MMLP (4%), Telecom/OFC (5%), highlighting a clear emphasis on road infrastructure in the overall project portfolio.

About the company

G R Infraprojects Limited is a prominent Indian infrastructure and construction company specializing in large-scale civil engineering projects. The company undertakes the development of roads, highways, bridges, and other urban and rural infrastructure projects across India, offering services under various models such as Engineering, Procurement, and Construction (EPC).

As of Q2FY26, G R Infraprojects Limited reported sales of Rs. 1,602 crore, reflecting a healthy year-on-year growth of 15% compared to Rs. 1,394 crore in Q2FY25, though showing a decline of 19% quarter-on-quarter from Rs. 1,988 crore in Q1FY26.

The company’s EBITDA stood at Rs. 387 crore, up 10% YoY but down 3% QoQ, while net profit was Rs. 190 crore, slightly lower than the previous year by 2% and down 22% from the previous quarter. Earnings per share (EPS) were Rs. 19.91, nearly flat YoY with a marginal decrease of 0.35%, but decreased 21% QoQ.

The company shows decent profitability with a ROCE of 14% and ROE of 12.2%, supported by moderate leverage (debt-to-equity 0.63). Its stock appears undervalued, trading at a P/E of 9.34 versus the industry’s 18.6 and just 1.14 times book value.

Written by Manideep Appana

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