H.G. Infra Declared L1 Bidder for Rajasthan ITI Upgradation Project; Shares Rise 0.98%

Mumbai, July 13: H.G. Infra Engineering Ltd. has been declared the lowest (L1) bidder by the Department of Skill, Employment & Entrepreneurship, Government of Rajasthan, for the upgradation of Industrial Training Institutes (ITIs) under the National Scheme for ITI Upgradation.

According to the company’s exchange filing, the project covers the Bhiwadi cluster and will be executed under the Public-Private Partnership (PPP) model. The concession period is 10 years.

Rather than a fixed contract value, the company will receive a 17.10% share of the project’s estimated cost of ₹241 crore, as outlined in the bid documents. The filing also clarified that the project has been awarded by a domestic government authority and does not involve any related-party transactions.

At this stage, H.G. Infra has secured preferred bidder status. The award is expected to move to the next stage after the completion of the government’s tendering process and execution of the required agreements.

Stock Market Snapshot

H.G. Infra share price moved higher following the announcement.

The stock was trading at ₹569.20, up ₹5.55 or 0.98%, as of 3:16 PM IST on July 13. The gain reflected a positive, though measured, market response as investors assessed the significance of the company’s latest addition to its infrastructure project pipeline.

L1 bidder announcements are generally viewed as positive because they improve revenue visibility, although the financial impact typically becomes clearer only after the formal letter of award and contract execution.

Company Background

H.G. Infra Engineering is an infrastructure development company with operations spanning highways, railways, metro systems and civil construction projects across India. In recent years, the company has also diversified into social infrastructure and public-private partnership projects, broadening its order mix beyond traditional road construction.

Conclusion

The Rajasthan ITI project adds another government-backed opportunity to H.G. Infra’s pipeline, although the project is yet to reach the contract award stage. Investors will likely watch for the issuance of the formal letter of award and further details on execution timelines before assessing its contribution to the company’s order book.

Source:

• https://www.nseindia.com/get-quote/equity/HGINFRA/H.G.-Infra-Engineering-Limited
• https://nsearchives.nseindia.com/corporate/HGINFRA_13072026144408_FinalIntimation.pdf