GR Kasganj Bypass Pvt., a wholly owned subsidiary of GR Infraprojects Ltd., signed a concession agreement worth Rs 1,085.47 crore with the National Highways Authority of India.
The project entails four-laning of the highway from the Kasganj Bypass end to the Chandan Nagar section of National Highway 530B in Uttar Pradesh in a hybrid annuity mode, the company said in an exchange filing on Tuesday.
It will have to be completed within 730 days from the appointed date, the filing said.
The operation period for the project is 15 years from the commercial operation date.
On Dec. 31, 2023, the company successfully bid and received the Letter of Intent from REC Power Development and Consultancy Ltd. for building a transmission system in Rajgarh.
The project is worth Rs 41.97 crore and is to be completed in two years, with an operating period of 35 years.
Shares of GR Infraprojects closed 2.03% higher at Rs 1,139 apiece, as compared with a 0.29% decline in the NSE Nifty 50.
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