HG Infra Emerges as L-1 Bidder for ₹1,582 Cr Odisha Ring Road Project

was declared the lowest (L-1) bidder by the National Highways Authority of India (NHAI) for a 40.33 km six-lane access-controlled ring road package-III in Odisha's capital region, executed under the hybrid annuity mode (HAM). The project spans from Gobindpur on NH-55 to Tangi near Bandola Toll Plaza on NH-16, with an estimated cost of ₹1,827.33 crore and HG Infra's bid at ₹1,582.11 crore (excluding GST); completion is targeted within 910 days. The contract, awarded by a domestic entity with no promoter group interests or related party transactions, aligns with the company's expertise in roads, highways, and bridges. On February 24, 2026, shares closed at ₹569.90, down 1.89% or ₹10.95 on BSE, amid recent Q3FY26 results showing 12.8% YoY net profit growth to ₹115 crore and EBITDA up 25.7% to ₹286.9 crore, despite a 7.3% revenue dip. Disclaimer: This post is for informational purposes only and not a recommendation to buy or sell any securities. I, or my family, associates, or relatives, may have a financial interest in the securities mentioned.