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GR Infraprojects Secures ₹903.5 Crore Nagpur Metro Project Contract

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Synopsis:

GR Infraprojects secured a ₹903.5 crore contract for Nagpur Metro Phase-2. The 17.6 km project includes special spans and a double-decker structure, to be completed in 30 months. GR Infraprojects share price has surged 37.61% over the past year.

GR Infraprojects News Today

GR Infraprojects Ltd, a leading infrastructure company, has won a ₹903.5 crore contract from Maharashtra Metro Rail Corporation Ltd for designing and constructing an elevated metro viaduct in Nagpur. The project is a crucial part of the Nagpur Metro Rail Project's Phase-2 expansion and is expected to bolster the company’s portfolio.

G R INFRAPROJECTS LIMITED

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1573-20.90 (-1.31 %)

Updated - 13 December 2024
1635.35day high
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1565.00day low
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84747
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Key Project Details

The contract includes the design and construction of a 17.6-kilometre elevated metro viaduct, which incorporates two special railway spans of 79 metres and 100 metres.

Additionally, the project involves a six-lane double-decker section spanning 1.14 kilometres, featuring a vehicular underpass (VUP). This section is a major highlight of the Reach-1A of the Nagpur Metro Rail Project’s Phase-2.

Timeline and Execution

GR Infraprojects will execute the project on an Engineering, Procurement, and Construction (EPC) basis, with a construction period of 30 months. The company had previously emerged as the lowest bidder for the project, with the financial bid opening held in September 2024.

This win puts the GR Infraprojects share price in limelight, while further solidifying its position as a key player in the Nagpur Metro Rail Project.

Share Price Performance

GR Infraprojects’ share price has seen a notable performance, reflecting market confidence in the company’s strong project pipeline. As of Wednesday, the share price stood at ₹1,656.50, marking a 3.39% increase on the day. Over the past 12 months, the GR Infraprojects share price has delivered a 37.61% return.

Importance of the Project

The Nagpur Metro Rail Project Phase-2 is a critical infrastructure project aimed at enhancing public transportation in one of Maharashtra’s fastest-growing cities. The expansion will help in decongesting roads, reduce travel time, and improve connectivity in Nagpur.

For GR Infraprojects, securing such a large-scale contract further reinforces its stronghold in the metro rail construction domain, setting the stage for more such projects in the future.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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