B R Goyal Infrastructure Secures NHAI Contract

11 Mar 2025 CW Team

B R Goyal Infrastructure's shares rose 2.49% to Rs 123.50 after the company secured a significant work order worth Rs 707.5 million from the National Highways Authority of India (NHAI).

According to an exchange filing, the contract involves the engagement of a user fee collection agency via e-tender for the Newadakanthi fee plaza situated at Design Km 405.650 on the Aligarh-Kanpur section of National Highway 91 in Uttar Pradesh. The project spans from Design Km 373.085 to Km 433.728 (existing Km 356.000 to Km 414.000), catering to four or more lanes. The work order is valued at Rs 707.5 million and is expected to be completed within a year.

B R Goyal Infrastructure specializes in infrastructure development, including roads, highways, bridges, and buildings, and offers EPC services for third-party projects such as commercial complexes, industrial parks, housing projects, and HAM projects. Additionally, the company engages in wind power generation, manufacturing of ready-mix concrete (RMC), and toll collection contracts (TCC).

As of 30 September 2024, the company employed 402 permanent employees and 212 workers at TCCs. It recorded a revenue of Rs 1.55 billion and a net profit of Rs 19.4 million as of 31 July 2024.

The company made its stock market debut on 14 January 2025, listing at Rs 135.75, a 0.56% premium over its initial public offer (IPO) price. The stock has since risen 4.60% above its listing price.

The IPO, held between 7 January 2025 and 9 January 2025, was a massive success, being subscribed 109.91 times with a price band of Rs 128 to Rs 135 per share.

B R Goyal Infrastructure's latest achievement further strengthens its portfolio in toll collection contracts.

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