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HG Infra Engg lowest bidder for ₹1,582-cr NHAI ring road project in OdishaThe project involves a stretch of 40.33 km in Odisha and has to be completed in 910 days. Shares of HG Infra Engineering Ltd ended at ₹569.90, down by ₹10.95, or 1.89%, on the BSE today, February 24.By Jomy Jos Pullokaran  February 24, 2026, 8:58:57 PM IST (Updated)2 Min ReadHG Infra Engineering Ltd on Tuesday (February 24) said it has been declared the L-1 bidder by the National Highways Authority of India (NHAI) for constructing a new six-lane access-controlled capital region ring road package-III project in Odisha under hybrid annuity mode (HAM).

The project involves construction from Gobindpur (NH-55) to Tangi near Bandola Toll Plaza (NH-16), covering a length of 40.33 km in the state of Odisha under NH(O).

The estimated project cost is ₹1,827.33 crore, while HG Infra’s bid project cost stands at ₹1,582.11 crore, excluding applicable GST. The construction period for the project is 910 days. The contract has been awarded by a domestic entity and is domestic in nature.

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The company confirmed that the promoter, promoter group, or group companies do not have any interest in the awarding entity. It also stated that the order does not fall under related party transactions.

Third quarter results

The company reported a 12.8% year-on-year (YoY) rise in its net profit, which stood at ₹115 crore for the December quarter, compared to ₹102 crore in the same period last year. The company’s EBITDA grew 25.7% YoY to ₹286.9 crore, up from ₹228.3 crore in Q3FY24.

However, revenue saw a 7.3% YoY decline, coming in at ₹1,264.8 crore, down from ₹1,364.5 crore in the year-ago quarter. Despite the revenue contraction, HG Infra delivered significant margin expansion, with EBITDA margin improving to 22.7% from 16.7% last year.

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HG Infra Engineering Ltd is engaged in infrastructure development, including roads, highways, bridges, and runways, alongside land development and rehabilitation services.

Shares of HG Infra Engineering Ltd ended at ₹569.90, down by ₹10.95, or 1.89%, on the BSE today, February 24.

Also Read : PM Modi hails ₹1,677-crore Srinagar airport expansion as boost for J&K economyContinue Reading(Edited by : Shoma Bhattacharjee)First Published: Feb 24, 2026 8:57 PM ISTTagsHG Infra Engineeringshare market today