HG INFRA FORMS SUBSIDIARY FOR ODISHA RING ROAD PROJECT

has incorporated a wholly owned subsidiary company called H.G. Gobindpur Tangi Highway Private Limited to execute a major highway contract in Odisha. The project covers a 40.33 km six-lane access controlled Capital Region Ring Road. The assignment will be executed under Hybrid Annuity Mode with a construction period of 910 days. will retain complete ownership and control of the subsidiary company by holding 100% equity. The company will specifically handle construction from Gobindpur on NH-55 to Tangi near Bandola Toll Plaza on NH-16 and will implement package works awarded by the National Highways Authority of India. Having a market cap of Rs 3,986 crore, the company's stock is trading at an attractive P/E of 10.4 and P/B of 1.29 making it a fair value. New order win will help boost the company's sales and profit growth.