HG Infra, a construction engineering firm, announced on Wednesday that it had been declared the lowest bidder for a project worth Rs 764 crore by the National Highways Authority of India (NHAI) for Hybrid Annuity Mode Project. (HAM).

The company disclosed in its stock exchange filing that the bid project cost was Rs 925.1 crore, while the NHAI estimated the project cost to be Rs 764 crore. The bid is for the development of a six-lane Greenfield Varanasi-Ranchi-Kolkata highway. HG Infra intends to complete the project in 730 days.

On March 21, the North Central Railway in Kanpur declared the construction engineering firm as the lowest bidder for a project worth Rs 677.3 crore. HG Infra had previously been declared the lowest bidder for an NHAI project worth Rs 998.36 crore.

HG Infra's shares closed 0.6 percent higher at Rs 773.8.

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