GR Infra to float InvIT by 2022, eyes enterprise value of Rs 15k cr

19 Oct 2021 CW Team

With the addition of approximately 14 assets in its kitty, the InvIT may have an enterprise cost of Rs 15,000 crore, the people informed.

The firm has hired Avendus Capital to assist in launching this private InvIT.

GR Infra is in discussions with multiple pension funds, sovereign funds to draw 1-2 partners for the InvIT. They are open to marketing even a controlling stake in the InvIT.

It expects to get an equity value of approximately Rs 3,700 crore for the assets. Initially, seven operational assets will be obtained under the InvIT.

The remaining under-construction assets may be added according to investor interest, later on, the person added.

As of March 31, GRIL's order book reached Rs 19,026 crore and included 16 EPC projects, 10 hybrid annuity mode (HAM) projects and three other projects. Revenue from operations surged at a CAGR of 21.9% to Rs 7,844 crore in FY21 from Rs 5,282 crore in FY19 while profit for the year surged at a CAGR of 15.3% to Rs 953 crore in FY21 from Rs 716 crore in FY19.

As of March 31, the firm's total borrowings were Rs 4,495 crore. Last month, the firm acquired NHAI projects of Rs 927 crore in Punjab for the six-lane Amritsar-Bathinda greenfield section development of NH-7S4A. Its recent EPC projects include Delhi-Meerut Expressway construction from Dasna to Meerut in Uttar Pradesh, four-laning of Parwanoo-Solan section of NH-22 in Himachal Pradesh, and advancement of Raisinghnagar-Poogal section in Rajasthan.

The Gurugram-based GRIL has been working to monetise its assets for the past three years

In 2019, it was in talks with Canadian pension fund Caisse de depot et placement du Quebec (CDPQ) and Edelweiss Infrastructure-backed Sekura Roads to market seven HAM projects at Rs 4,000 crore enterprise value. It had hired HDFC Bank to manage the sale process.

Image Source

Also read: Shrem group plans to raise Rs 600 cr by diluting 15% stake in InVIT

GR Infraprojects Limited (GRIL), an integrated road engineering, procurement and construction (EPC) firm, aims to float its Infrastructure Investment Trust (InvIT) by early next year, many people aware of the advancement said, in a proposal to tap long-term institutional investors in Indian infrastructure assets. With the addition of approximately 14 assets in its kitty, the InvIT may have an enterprise cost of Rs 15,000 crore, the people informed. The firm has hired Avendus Capital to assist in launching this private InvIT. GR Infra is in discussions with multiple pension funds, sovereign funds to draw 1-2 partners for the InvIT. They are open to marketing even a controlling stake in the InvIT. It expects to get an equity value of approximately Rs 3,700 crore for the assets. Initially, seven operational assets will be obtained under the InvIT. The remaining under-construction assets may be added according to investor interest, later on, the person added. As of March 31, GRIL's order book reached Rs 19,026 crore and included 16 EPC projects, 10 hybrid annuity mode (HAM) projects and three other projects. Revenue from operations surged at a CAGR of 21.9% to Rs 7,844 crore in FY21 from Rs 5,282 crore in FY19 while profit for the year surged at a CAGR of 15.3% to Rs 953 crore in FY21 from Rs 716 crore in FY19. As of March 31, the firm's total borrowings were Rs 4,495 crore. Last month, the firm acquired NHAI projects of Rs 927 crore in Punjab for the six-lane Amritsar-Bathinda greenfield section development of NH-7S4A. Its recent EPC projects include Delhi-Meerut Expressway construction from Dasna to Meerut in Uttar Pradesh, four-laning of Parwanoo-Solan section of NH-22 in Himachal Pradesh, and advancement of Raisinghnagar-Poogal section in Rajasthan. The Gurugram-based GRIL has been working to monetise its assets for the past three years In 2019, it was in talks with Canadian pension fund Caisse de depot et placement du Quebec (CDPQ) and Edelweiss Infrastructure-backed Sekura Roads to market seven HAM projects at Rs 4,000 crore enterprise value. It had hired HDFC Bank to manage the sale process. Image Source Also read: Shrem group plans to raise Rs 600 cr by diluting 15% stake in InVIT

Real Estate

08 Oct 2025

Bennet & Bernard Unveil Dutch-Inspired ‘Casa El Toledo’ in Goa

Bennet & Bernard Group, Goa’s leading luxury real estate developer, has launched its newest project, Casa El Toledo, in Assagao. The enclave features 18 ultra-luxury 4 BHK Dutch-style villas blending European charm with tropical elegance. Each villa includes a private pool, double-height ceilings, open courtyards, alfresco dining areas, and English-inspired landscaping. The interiors are curated by noted Dutch designer Kelly Marie. Reflecting the grandeur of the Dutch Golden Age, Casa El Toledo harmonises heritage aesthetics with modern sensibilities. Expansive interiors flow..

Equipment

08 Oct 2025

Godrej Delivers Heaviest Ecolaire Surface Condenser to US Project

Godrej Enterprises Group’s Process Equipment business has manufactured and delivered its heaviest Ecolaire® Surface Condenser to date, weighing nearly 450 metric tonnes, for a power-generation project in the United States. The project, powered by natural gas and partly designed for hydrogen compatibility, marks another step in advancing clean energy systems. Produced at the company’s GreenCo-certified Dahej facility in Gujarat, the equipment demonstrates India’s growing engineering capabilities and reinforces Godrej’s ‘Make in India for the World’ vision. Hussain S..

Infrastructure Energy

08 Oct 2025

India, Brazil Discuss Energy Ties And Oil Investments

Union Minister for Petroleum and Natural Gas Hardeep Singh Puri held discussions with Celso Luis Nunes Amorim, Special Advisor to the President of Brazil, and senior Brazilian officials to strengthen bilateral cooperation in the oil, gas, and energy transition sectors. The talks took place during a dinner hosted by Kenneth H da Nobrega, Ambassador of Brazil to India, at his residence in New Delhi.Mr Puri said the meeting focused on Indian investments in Brazil’s oil and gas sector, as well as expanding collaboration in energy transition and biofuels. “The enriching conversation revolved ar..