HG Infra Engineering arm gets appointed date for ₹925 crore Varanasi–Kolkata highway project

Infrastructure company HG Infra Engineering Limited (HGINFRA) on Wednesday (October 1) said its wholly owned subsidiary, HG Varanasi-Kolkata PKG-13 Private Limited, has received the appointed date from the National Highways Authority of India (NHAI) for its highway project in Jharkhand.

The company informed the exchanges that NHAI, through a letter dated September 30, 2025, declared the provisional appointed date for the project involving the construction of a six-lane greenfield Varanasi–Ranchi–Kolkata Highway from Junction with NH320 in Lepo village to Kamlapur village (Jharkhand/West Bengal border), under Bharatmala Pariyojana.

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The project, awarded on Hybrid Annuity Mode (HAM), has a cost of ₹925.11 crore and a completion period of 730 days. It spans 28.70 km.

First Quarter Results

HG Infra Engineering reported a 39.2% year-on-year decline in net profit at ₹98.8 crore for the first quarter of the current fiscal, down from ₹162.5 crore in Q1FY25. Revenue from operations dipped 3% to ₹1,482 crore against ₹1,528 crore year-on-year.

At the operating level, EBITDA fell 17.5% to ₹260 crore in this quarter over ₹315.7 crore a year ago. The EBITDA margin was 300 bps lower at 17.5% versus 20.6% in the corresponding period of the previous fiscal.

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Rajasthan-based HG Infra Engineering offers infrastructure construction services. The company is into highways, roads, bridges, runways, and civil construction, as well as land development, water pipelines, rehabilitation, and upgradation services.

Shares of HG Infra Engineering Ltd ended at ₹961.45, up by ₹31.95, or 3.44%, on the BSE.