HG Infra Engineering Ltd, based in Jodhpur, announced on December 23 that its wholly-owned subsidiary, HG Banaskantha Bess Private Ltd, has entered into a battery energy storage purchase agreement with NTPC VidyutVyapar Nigam Ltd. The agreement secures 185 MW/370 MWh of battery energy storage capacity on a long-term basis.
In a regulatory filing, HG Infra Engineering stated, “HG Banaskantha Bess Private Limited, a wholly-owned subsidiary of HG Infra Engineering Ltd, signed a Battery Energy Storage Purchase Agreement with NTPC VidyutVyapar Nigam Ltd on December 23, 2024, for the procurement of 185 MW/370 MWh on a long-term basis.”
HG Infra Engineering recently reported a 16% year-on-year (YoY) decline in net profit for the second quarter ending September 30, 2024, with earnings of ₹80.7 crore compared to ₹96.1 crore in the same period last year. Revenue from operations also fell by 5.5% YoY to ₹902.4 crore, down from ₹954.5 crore.
At the operating level, EBITDA marginally dipped by 0.3%, reaching ₹219.5 crore in Q2 FY25, compared to ₹220.1 crore in the previous fiscal’s corresponding quarter. However, the company’s EBITDA margin improved to 24.3%, up from 23% during the same period last year. EBITDA, a measure of earnings before interest, tax, depreciation, and amortization, reflects the company’s focus on maintaining strong operational performance despite challenges in revenue and profit growth.
HG Infra Engineering Ltd, headquartered in Jodhpur, is a leading player in the infrastructure development sector in India, specializing in the construction of roads, highways, bridges, and civil works. The company has a strong reputation for timely project execution and high-quality standards, making it a preferred partner for both government and private entities.
In recent years, HG Infra has diversified its operations, entering the energy sector through initiatives like battery energy storage systems, showcasing its commitment to sustainable development. The company’s focus on innovation, operational excellence, and expanding project portfolios positions it as a significant contributor to India’s infrastructure growth.
