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HG Infra Engineering Ltd on Friday (22 November) informed about receiving the Letter of Award (LoA) from NTPC Vidyut Vyapar Nigam Limited under the Tariff Based Global Competitive Bidding Process. The project involves the purchase and installation of 500 MW/1000 MWh standalone battery energy storage systems across India. HG Infra will handle 185 MW/370 MWh of the total capacity at a rate of Rs 2,38,000 per megawatt per month. The value of this project is around Rs 1,110 crore and it will take 1.5 years to complete.
HG Infra Engineering reported a 16 per cent year-on-year decline in profit to Rs 80.7 crore for the second quarter ended September 30, 2024. In the same quarter of the previous fiscal, HG Infra Engineering had reported a profit of Rs 96.1 crore. Got a big project in August In August this year, HG Infra Engineering emerged as the lowest bidder (L1) for a road upgrade project in Gujarat. The project involves upgrading the existing six-lane road including an elevated corridor extending from Narol Junction to Sarkhej Junction along National Highway 47 in the state.
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