GR Infraprojects share price gains 3% on winning Western Railway project of Rs 262.3cr

G R Infraprojects

G R Infraprojects share price rose more than 3 percent in the early trade on January 30 after the company emerged as the lowest bidder for project of Western Railway.

At 09:51am, G R Infraprojects was quoting at Rs 1,303.05, up Rs 42.30, or 3.36 percent, on the BSE.

The project is for gauge conversion of 38.900 kms track and associated work like earthwork, blanketing, supply of ballast, minor bridges, major bridges, office/service buildings including water supply arrangement & sanitations, platforms and station associated amenities construction of retaining wall/ boundary wall/ side drains complete track linking with supply of materials including small track machines but excluding new rails from chainage 9.200 kms to 48.100 kms (38.90 kms) and all works related to 30 RUB’s from Kosamba to Umarpada at Kosamba-Umarpada section in Vadodara division of Western Railways.

The contract value is Rs 262.28 crore and to be completed in 24 months from the date of appointment.

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A meeting of board of directors of the company is scheduled to be held on February 1, 2025, to consider and approve unaudited standalone and consolidated financial results for the quarter ended 31st December 2024.

In December, the company received a letter of intent for a transmission project in Karnataka. The quoted price for the project was Rs 107.7 crore per annum.