What is the total project cost and the company's share?

The total estimated project cost is ₹241 crore; H.G. Infra's share is 17.1%, which comes to about ₹41 crore.

Is the L-1 status a confirmed contract?

No, L-1 is the lowest bidder position, which is a preliminary stage. It does not guarantee that the contract will be awarded.

How significant is this order for H.G. Infra's revenue?

The ₹41 crore value represents less than 2% of the company's trailing annual revenue, so it is not material to earnings estimates.

What is the execution timeline for this project?

The project is to be executed on a PPP basis over a 10-year period.

Engineering - Construction · Small cap

H.G. Infra L-1 for Rajasthan ITI project worth ₹41 cr

L-1 bid for a 10-year PPP to upgrade ITIs, but the ₹41 cr share is under 2% of trailing revenue and not a binding contract yet.

— 2 earlier stories on H.G. Infra Engineering Ltd. →

HGINFRA By Tipsheet Editorial 13 Jul 2026 · 2:42 PM IST Verify on BSE · NSE

Mkt cap₹3,698 cr

P/E11.19×

ROE17.14%

Debt / eq.1.39

Div yld0.35%

₹41 crore Company's share of the total project cost

What's new

Declared L-1 bidder by Rajasthan skill department for ITI upgradation.
Project is a 10-year PPP with total estimated cost of ₹241 crore.
Company's 17.1% share amounts to approximately ₹41 crore.

Why this matters

At under 2% of the company's annual revenue, this order is too small to move the needle. L-1 status is preliminary and not a binding award, so execution risk remains.

What we're watching

Whether the L-1 status converts into a formal contract award.
Any further orders from Rajasthan or other states under similar schemes.
Impact on order book once contract is finalized.

The full read

H.G. Infra Engineering has been declared the L-1 bidder by the Rajasthan government for upgrading ITIs in the Bhiwadi cluster under a 10-year PPP model. The company's share of the ₹241 crore total project cost is ₹41 crore. That is under 2% of its trailing revenue of several thousand crores. While winning any bid is positive, L-1 status is preliminary and not a binding contract. The order is too small to affect earnings forecasts or stock movement. It does, however, show continued business development activity from the company that recently locked in a large 35-year transmission deal.

Questions answered

What is the total project cost and the company's share?: The total estimated project cost is ₹241 crore; H.G. Infra's share is 17.1%, which comes to about ₹41 crore.
Is the L-1 status a confirmed contract?: No, L-1 is the lowest bidder position, which is a preliminary stage. It does not guarantee that the contract will be awarded.
How significant is this order for H.G. Infra's revenue?: The ₹41 crore value represents less than 2% of the company's trailing annual revenue, so it is not material to earnings estimates.
What is the execution timeline for this project?: The project is to be executed on a PPP basis over a 10-year period.

Mentioned: Department of Skill, Employment & Entrepreneurship, Government of Rajasthan · ₹241 cr total project cost

Primary source BSE · NSE · Tijori

An independent reading of the company's own disclosure — the primary filing above is the final word.

Company snapshot

H.G. Infra Engineering Ltd.

Infrastructure

₹3,638 cr

P/E 11.01×

Latest quarter · Mar 2026

Sales₹1,427 cr

Net profit₹84 cr

Op. margin+16.6%

EPS₹13.06

Strength & growth

Debt / equity1.39×

Current ratio1.58×

Sales CAGR+33.9%

EPS CAGR+15.7%

Story so far

All notes on HGINFRA →

13 Jul 2026 · 2:42 PM IST H.G. Infra L-1 for Rajasthan ITI project worth ₹41 cr
56d ago H.G. Infra's Q4 call transcript adds nothing new to the May 29 discussion.
62d ago H.G. Infra locks in 35-year transmission deal with REC unit