G R Infra Wins Rs 413 Cr NTPC Project; Stock Up 1.75%

Shares of G R Infra Ltd surged 1.75% to hit a day’s high of Rs 831 on 30th March after the company announced it had received a Notification of Award from NTPC Limited for a battery energy storage system (BESS) project at the Mouda Super Thermal Power Station.

The contract, worth Rs 413.37 crore (excluding GST), has been awarded on an EPC (engineering, procurement, and construction) basis, according to G R Infra Ltd.

The project includes design, supply, installation, and full lifecycle maintenance of the battery energy storage system (BESS).

It is scheduled to be completed within 15 months from the appointed date.

The order is from a domestic entity and is not a related-party transaction. The company also confirmed that its promoters have no interest in the awarding entity.

This win strengthens the company’s order book in the power and infrastructure space, especially in energy storage. Recently, it also secured a Rs 1,453.57 crore highway project in Gujarat.

For the December quarter, the company reported a 7.8% YoY rise in net profit to Rs 261.7 crore, even as revenue fell 20.6% to Rs 1,694.5 crore. EBITDA declined 27.1% to Rs 369.8 crore.

At 1:11 PM, shares of G R Infra were trading 1.11% higher at Rs 813.40 on the NSE.

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