H.G. Infra Expands into Battery Storage with Gujarat Win

24 Apr 2025 CW Team

The contract, awarded by a domestic entity, is expected to be completed in 24 months, marking a significant diversification milestone for HGINFRA, which is predominantly known for its road construction capabilities. The company’s entry into battery storage reflects a larger strategy to strengthen its presence in other infrastructure segments such as solar energy and railways.

This expansion comes at a time when HGINFRA is already seeing a strong market performance. The company’s stock is currently 30% above its 52-week low of Rs 921 per share and has delivered multibagger returns of over 500% in the past five years. Backed by solid fundamentals, the stock continues to attract investor interest, with Abakkus Emerging Opportunities Fund – 1, managed by ace investor Sunil Singhania, holding a 1.33% stake as of December 2024.

Strengthening its Position As of Q3 FY25, HGINFRA’s order book stands at Rs 150.8 billion, with the bulk of its contracts focused on highway projects. In recent quarters, the company has successfully diversified, securing new orders worth Rs 82 billion in sectors including roads, solar power, and energy storage. For FY25, HGINFRA is targeting order inflows of Rs 110–120 billion and aims to grow its revenues by 17–18%, with a strong emphasis on non-road verticals.

About HGINFRA Headquartered in India, H.G. Infra Engineering Limited is a prominent Engineering, Procurement, and Construction (EPC) player. While its core strength remains in road infrastructure, the firm has expanded its portfolio to include metro, railways, solar, and water projects. The company boasts 26 ongoing projects across 13 states and is a pre-qualified bidder for large EPC and Hybrid Annuity Model (HAM) contracts. It holds top-tier accreditations such as AA-class from the Rajasthan Government and SS-class from the Military Engineer Services.

Its clientele includes major entities like NHAI, DMRC, MoRTH, Adani, MSRDC, CR, SCR, NCR, JDVVNL, and RVNL, cementing its reputation as a trusted infrastructure partner.

With an ROE and ROCE of 24% each, HGINFRA remains a strong small-cap stock to watch in India’s growing infrastructure space.

H.G. Infra Engineering Ltd (HGINFRA), a leading player in India’s infrastructure sector, has secured qualified bidder status from Gujarat Urja Vikas Nigam Ltd (GUVNL) for setting up a 300 MW/600 MWh standalone Battery Energy Storage System (BESS). The Rs 18.7 billion project is part of a larger 500 MW/1000 MWh energy storage initiative being developed under Phase-VI of tariff-based global competitive bidding. The contract, awarded by a domestic entity, is expected to be completed in 24 months, marking a significant diversification milestone for HGINFRA, which is predominantly known for its road construction capabilities. The company’s entry into battery storage reflects a larger strategy to strengthen its presence in other infrastructure segments such as solar energy and railways. This expansion comes at a time when HGINFRA is already seeing a strong market performance. The company’s stock is currently 30% above its 52-week low of Rs 921 per share and has delivered multibagger returns of over 500% in the past five years. Backed by solid fundamentals, the stock continues to attract investor interest, with Abakkus Emerging Opportunities Fund – 1, managed by ace investor Sunil Singhania, holding a 1.33% stake as of December 2024. Strengthening its Position As of Q3 FY25, HGINFRA’s order book stands at Rs 150.8 billion, with the bulk of its contracts focused on highway projects. In recent quarters, the company has successfully diversified, securing new orders worth Rs 82 billion in sectors including roads, solar power, and energy storage. For FY25, HGINFRA is targeting order inflows of Rs 110–120 billion and aims to grow its revenues by 17–18%, with a strong emphasis on non-road verticals. About HGINFRA Headquartered in India, H.G. Infra Engineering Limited is a prominent Engineering, Procurement, and Construction (EPC) player. While its core strength remains in road infrastructure, the firm has expanded its portfolio to include metro, railways, solar, and water projects. The company boasts 26 ongoing projects across 13 states and is a pre-qualified bidder for large EPC and Hybrid Annuity Model (HAM) contracts. It holds top-tier accreditations such as AA-class from the Rajasthan Government and SS-class from the Military Engineer Services. Its clientele includes major entities like NHAI, DMRC, MoRTH, Adani, MSRDC, CR, SCR, NCR, JDVVNL, and RVNL, cementing its reputation as a trusted infrastructure partner. With an ROE and ROCE of 24% each, HGINFRA remains a strong small-cap stock to watch in India’s growing infrastructure space.

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