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breaking news GR Infraprojects announces completion of Rs 1,827 Crore project in Andhra Pradesh


On November 22, the company received the certificate of completion of the project, issued by an independent engineer.

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GR Infraprojects has received the Certificate of Completion for the National Highway (NH-16) Four Lane Project in Andhra Pradesh.


The company’s wholly-owned subsidiary, GR Gundugolanu‐Devarapalli Highway Private Ltd., has completed the four lanes of the Gundugolanu‐Devarapalli‐Kovvuru section of NH‐16 for a total stretch of 69.884 km. This was done on the hybrid annuity mode under the Bharatmala Pariyojana and completed at a total cost of Rs 1,827 crore.

On November 22, the company received the certificate of completion of the project, issued by an independent engineer.

The aforementioned project was awarded to the construction company on October 22, 2018, and completion was due within 910 days. However, the completion deadline was later revised to July 10, and the actual completion date was pushed back to September 30, 2022.

GR Infraprojects recorded a consolidated net profit of Rs 336.23 crore in the September quarter, compared to Rs 188.6 crore in the same quarter last year. Its net sales rose by 13.49% to Rs 2,136.36 crore, while EBITDA jumped by 53.52% to Rs 626.64 crore.

Shares of the company closed up 1.66% at Rs 1,184.05.

(Edited by : Rukman Krishna)

First post: STI


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