HG Infra Named Qualified Bidder for 300 MW Battery Storage Project in Gujarat

HG Infra Engineering Limited has been declared a qualified bidder by Gujarat Urja Vikas Nigam Ltd (GUVNL) for the development of a standalone battery energy storage system in Gujarat. The project involves a capacity of 300 MW/600 MWh out of a total of 500 MW/1000 MWh under the Phase-VI round of tariff-based global competitive bidding.

Contract Terms

The project is domestic in nature. It is expected to be executed within a 24 month period. The order pertains to battery storage infrastructure and does not involve any related party transactions. There is no promoter group interest in the awarding entity.

Disclosure and Regulatory Compliance

The company made the announcement through a formal intimation to the stock exchanges on April 21, 2025. The communication was in line with Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements. As per insider trading rules, the trading window for designated persons and their immediate relatives remains closed until 48 hours after the announcement of audited financial results for the quarter and year ending March 31, 2025.

Read More: HG Infra Sells 100% Equity in Rewari Bypass to Highways Infrastructure Trust!

Order Book

As of December 31, 2024, HG Infra’s order book stood at ₹15,080 crore, nearly three times its FY24 revenue. Of the total order book, 94% comprises government projects, while the remaining 6% is from the private sector.

During Q4 FY25, the company secured additional orders worth ₹2,195 crore. HG Infra expects 35-40% of upcoming orders over the next two to three years to come from non-road infrastructure sectors. It is targeting new project wins worth ₹10,000-12,000 crore in FY26.

Stock Price Performance

As of 12:19 PM on April 22, 2025, HG Infra Engineering share price was trading at ₹1,151.40, up 1.11% for the day, down 13.72% over the past six months, and up 8.94% over the past year. Over the last seven days, the stock has gained 12%, outperforming the Nifty 50 index, which saw an 8% increase during the same period.

Conclusion

HG Infra continues to participate in large-scale infrastructure bids, including energy-related segments, alongside its existing portfolio.

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