GR Infraprojects Ltd. won a contract from Maharashtra Metro Rail Corp. Ltd., Nagpur, on Wednesday for the construction of a metro project worth Rs 904 crore.
The company received a letter of acceptance for a project that involves designing and construction of an elevated metro viaduct with a length of 17.624 km, according to an exchange filing on Wednesday. This also includes a railway span of length 79 m and 100 m.
The company will also build a double-decker section with six lanes and a vehicular underpass with a total length of 1.14 km. The construction of the metro will take place through engineering, procurement, and construction mode within a timeframe of 30 months, the filings said.
In September, REC Power Development and Consultancy transferred the project-specific special purpose vehicle, Tumkur-II REZ Power Transmission Ltd., to G R Infraprojects.
G R Infraprojects Q1 Performance
In the quarter ended June 2024, GR Infraprojects' net profit declined 49.7% year-on-year to Rs 156 crore. Revenue for the second quarter of the current financial year 2025 also fell by 18.1% to Rs 2,030 crore.
The company's earnings before interest, taxes, depreciation, and amortisation were Rs 368 crore, denoting a 39.4% fall year-on-year. Its margin declined to 18.1% from 24.5%.
Shares of G R Infraprojects closed 2.28% higher at Rs 1,638.75 apiece, compared to a 0.12% fall in the benchmark NSE Nifty.
The stock has fallen 37.43% in the last 12 months and 43.22% year-to-date.
Out of 13 analysts tracking the company, two maintain a 'hold' rating, five recommend a 'buy', and six suggest a 'sell', according to Bloomberg data. The average 12-month analysts' consensus price target implies a downside of 1.9%.
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