About H.G. Infra Engineering Limited

• Established on January 21, 2003, H.G. Infra Engineering Limited (HGIEL) is among India’s leading EPC and HAM infrastructure developers with core capabilities across roads and highways, rail/metro redevelopment, airports, water, solar, and Battery Energy Storage Systems (BESS) including transmission; operations span 13 states with 28–29 ongoing projects as of March 31, 2025.

• The company operates a vertically integrated model with a modern fleet of over 3,000 equipment units and skilled workforce, enabling end-to-end execution; its order book stood at Rs 15,281.20 crore as on March 31, 2025, with 96.7% from government clients and 3.3% from private clients.

• Significant FY 2024–25 awards included New Delhi Railway Station EPC redevelopment (Rs 2,195.70 crore), NH-227B Kosi Parikrama HAM (Rs 763.10 crore), NH-47 Narol–Sarkhej HAM (Rs 781.10 crore), and two BESS wins under tariff-based global competitive bidding (Rs 462.57 crore and Rs 511.22 crore).

• Category-wise order book mix in FY 2024–25: Roads Rs 10,392.00 crore, Rail Rs 3,097.50 crore, Solar Rs 818.70 crore, BESS Rs 973.00 crore; operational presence was pan-India (states cited include Maharashtra, Rajasthan, Haryana, Delhi, Andhra Pradesh, Odisha, Telangana, Karnataka, Himachal Pradesh, Jharkhand, Uttar Pradesh, and Bihar).

• Subsidiaries and structure: as on March 31, 2025, HGIEL had 45 wholly owned subsidiaries, 53 step-down subsidiaries, and 2 associates; 62 SPVs (vs. 9 in the prior year) were formed to execute awarded projects; Rewari Bypass Private Limited ceased to be a WoS on February 20, 2025.

• Key milestones in FY 2024–25 included strategic diversification into renewables and BESS; full redemption of listed NCDs on December 21, 2024; and shareholder approval (August 21, 2024) for MoA object clause alteration to include solar-related activities.

H.G. Infra Engineering Limited Business Segment

• Segment/vertical mix (Order book, March 31, 2025):
  • Roads — Rs 10,392.00 crore (68.0%)

  • Rail — Rs 3,097.50 crore (20.3%)

  • Solar — Rs 818.70 crore (5.4%)

  • BESS — Rs 973.00 crore (6.4%)

• Customer mix (Order book): Government 96.7%; Private 3.3% (March 2025).

• Domestic vs. international: The report presents a pan-India business with no disclosed international revenue split; revenue from operations (standalone) was Rs 6,051.88 crore in FY 2024–25.

H.G. Infra Engineering Limited Key Management

• Harendra Singh — Managing Director and Chairman.

• Vijendra Singh — Whole-time Director.

• Dinesh Kumar Goyal — Whole-time Director.

• Rajeev Mishra — Chief Financial Officer.

• Ankita Mehra — Company Secretary and Compliance Officer.

Latest Updates on H.G. Infra Engineering Limited

• Won EPC for Redevelopment of New Delhi Railway Station and associated infrastructure (Rs 2,195.70 crore).

• Secured two HAM projects: NH-227B Kosi Parikrama Marg Package VI (Rs 763.10 crore) and NH-47 Narol–Sarkhej (Rs 781.10 crore).

• Entered BESS with wins: 500 MW/1,000 MWh standalone BESS under national RfS (Rs 462.57 crore) and Gujarat Phase-IV BESS (Rs 511.22 crore).

• Strategic expansion into renewables: formation/acquisition of multiple solar/BESS SPVs and approval to include solar activities in MoA; numerous new WoS/SD subsidiaries incorporated in FY 2024–25.

• Completed NCD redemption on December 21, 2024; ICRA withdrew NCD rating on January 06, 2025; long-term/short-term bank facilities reaffirmed at ICRA AA- (Positive)/A1.

• Operational completions: received completion certificates for NH-58E Kundal–Jhadol (Rajasthan) and SH-4/SH-5 Kolde–Khetia (Maharashtra) EPC projects.