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H.G. Infra Engineering secured a ₹3931.11 Crore highway corridor project from Welspun Enterprises. The 36-month contract involves construction and improvement of a 53.40 km Maharashtra section.
H.G. Infra Engineering Limited received a credit rating update from ICRA Limited for total facilities worth ₹5,600 Crore. ICRA reaffirmed [ICRA]AA-(Positive) and [ICRA]A1+ ratings and assigned them to enhanced amounts. This reaffirmation and positive outlook signal strong creditworthiness and operational stability.
H.G. Infra Engineering Limited has completed the sale of its subsidiary, H.G. Raipur Visakhapatnam OD-6 Private Limited, to Neo Infra Income Opportunities Fund. The transaction was valued at ₹282.24 Crore in cash. This divestment of a non-core asset aligns with the company's capital allocation and monetization strategy.
H.G. Infra Engineering Limited completed the sale of its subsidiary, H.G. Raipur Visakhapatnam OD-6 Private Limited, to Neo Infra Income Opportunities Fund. The transaction was valued at ₹282.24 Crore in cash consideration. The divestment reflects a strategic disposal of a subsidiary unit that contributed approximately 6.5% to the company's annual turnover.
H.G. Infra Engineering completed the sale of its 100% stake in H.G. Raipur Visakhapatnam OD-6 Private Limited to Neo Infra Income Opportunities Fund for ₹282.24 Crore. The company received ₹203.00 Crore today, with the balance due per transaction terms. Consequently, the entity has ceased to be a subsidiary of the company.
H.G. Infra Engineering Limited has incorporated a wholly owned subsidiary, H.G. Gobindpur Tangi Highway Private Limited, as an SPV for an Odisha road project. The company invested ₹0.15 Crore in the initial share capital. This entity will execute a six-lane access-controlled ring road project under the Hybrid Annuity Mode.
H.G. Infra Engineering Limited has incorporated a wholly-owned subsidiary, H.G. Gobindpur Tangi Highway Private Limited, with a cash consideration of ₹0.15 Crore. This SPV was formed to execute a six-lane highway project in Odisha under the Hybrid Annuity Mode.
H.G. Infra Engineering Limited incorporated a wholly owned subsidiary, H.G. Gobindpur Tangi Highway Private Limited, as an SPV. The subsidiary will execute a ₹1,582.11 Crore NHAI road project in Odisha under the Hybrid Annuity Mode. The construction period is 910 days, with the subsidiary starting with ₹0.15 Crore initial capital.
H.G. Infra Engineering Limited secured a ₹519.33 Crore order from Mirzapur Thermal Energy (UP) Private Limited. The contract involves civil and P-way works for railway infrastructure development at a thermal power project in Uttar Pradesh. The project is scheduled for completion within 18 months, providing significant revenue visibility.
CARE Ratings has reaffirmed the 'CARE AA; Stable' rating for H.G. Infra Engineering Limited's long-term bank facilities. The rated amount has been revised to ₹140.00 crore from ₹200.00 crore. This reaffirmation signals continued creditworthiness and financial stability for the infrastructure company.