GR Infraprojects bags Rs 41.9 crore transmission project in Madhya Pradesh

GR Infra share price NSE, GR Infra new order: GR Infraprojects shares gained as much as 3.5 per cent on NSE in morning deals on Tuesday (January 2) to touch the day's high of Rs 1,173.3. The buying interest sparked after the company bagged a transmission project worth Rs 41.9 crore.

"The company emerged as a successful bidder and has received a Letter of Intent from REC Power Development and Consultancy Limited dated for the establishment of the Transmission system for Evacuation of Power from RE Projects in Rajgarh (1000 MW) SEZ in Madhya Pradesh‐Phase II," the company's filing read.

At 11:52 AM, the counter gave up the initial gains to slip in red, down 0.54 per cent, at Rs 1,127.2 on NSE. Here are a few other details of the order:

• Annual Transmission Charges: Rs. 419.74 Million
• Completion Period: 24 Months
• Operation Period: 35 Years

What does GR Infraprojects do?

The company was incorporated as a public limited company in December 1995. GR Infraprojects' journey started with the first road project that was executed for the PWD (Public Works Department), Rajasthan, with a bid project cost of Rs 26.5 million in 1997, and since then, the company has continued to scale up the value chain and gradually increased execution capabilities in terms of size and complexity of projects and across various sectors.

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