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Geojit Research Report
The increasing opportunities in road, solar, railway and solar projects, along with a current order backlog at 2.9 times trailing twelve months revenue, ensure strong business visibility for HG Infra Engineering Ltd.
The management is prioritizing the diversification of the order book and maintaining a healthy margin profile to drive future growth.
We reiterate our Accumulate rating and value standalone businesses at a P/E of 17 times FY26E earnings per share and hybroid annuity model projects at 0.7 times price/book value with a target price of Rs 1,788.
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