HG Infra Engineering receives provisional completion certificate for Ganga Expressway

H.G. Infra Engineering Limited has received a provisional completion certificate for the Ganga Expressway project in Uttar Pradesh, declaring the infrastructure fit for commercial operations. The certificate was issued by Adani Road Transport Limited on May 30, 2026, and received by the company on June 05, 2026. This development marks a critical milestone for the engineering, procurement, and construction (EPC) contract, which covers a 151.700 km stretch of the access-controlled greenfield expressway.

The project involves the execution of civil and associated works on a DBFOT (Toll) basis for Group II of the expressway, spanning from Km. 137+600 in Village Nagla Barah, Budaun, to Km. 289+300 in Village Ubariya Khurd, Hardoi. The scope includes developing a six-lane facility expandable to eight lanes. The contract was awarded by domestic entity Adani Road Transport Limited, with no related party interests disclosed.

Project Details

The project was appointed on November 3, 2022, with a scheduled completion timeline of 820 days. The provisional completion was recorded on April 30, 2026. The total contract price for the extensive civil works was established at ₹4970.99 crore.

Project	Contract Price (INR in Cr.)	Appointed date	Schedule completion date	Provisional completion date
Execution of Civil and Associated works on EPC basis of Group II of Ganga Expressway	4970.99	03.11.2022	820 days from the appointed date	30.04.2026

Contract Specifications

The disclosure was made to the exchanges in compliance with Regulations 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that the order does not involve any transactions with promoter group companies or related parties. The nature of the order is strictly domestic, focusing on the construction sector within Uttar Pradesh.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+1.39%	-0.11%	-0.82%	-20.76%	-47.04%	+13.77%

hg infra engineering has completed the sale of a 49% stake in H.G. Raipur Visakhapatnam OD-5 Private Limited to Neo Infra Income Opportunities Fund for a total consideration of ₹377.40 crore. The transaction, finalized on June 05, 2026, marks the exit of the infrastructure entity from its status as a wholly owned subsidiary, though it remains a subsidiary of the company. The deal was executed pursuant to a Securities Purchase Agreement signed on December 18, 2025.

The financial impact of the divestment is significant given the subsidiary's contribution to the consolidated financials. For the financial year ended March 31, 2026, H.G. Raipur Visakhapatnam OD-5 Private Limited reported revenue of ₹325.59 crore, accounting for 6.22% of the consolidated revenue. The unit’s net worth stood at ₹139.59 crore, representing 4.28% of the consolidated net worth as of the same date.

Transaction Details

The consideration of ₹377.40 crore is being paid in two tranches. The company received the first tranche of ₹121.80 crore on June 05, 2026, against the transfer of the 49% stake. The second tranche, corresponding to the remaining 51% stake, is scheduled to be received on or before September 30, 2026, subject to the completion of that sale.

Financial Metric	Amount (₹ Crore)	% Share in Consolidated Figures
Revenue (FY26)	325.59	6.22%
Net Worth (Mar 31, 2026)	139.59	4.28%

Buyer Profile

The acquirer, Neo Infra Income Opportunities Fund, is a registered scheme under Neo Credit Alternatives Investment Trust. It is classified as a Category II Alternative Investment Fund registered with the Securities and Exchange Board of India and is managed by Neo Alternative Asset Managers Private Limited. The filing confirms that the buyer does not belong to the promoter or promoter group, and the transaction does not qualify as a related party transaction.