HG Infra Engineering has secured a significant contract worth ₹3,931.11 crore (excluding taxes) from Welspun Enterprises Limited for the development of a 6-lane highway connecting Pune to Shirur in the state of Maharashtra. The company received the Letter of Award on May 11, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The order represents a major addition to the company's project portfolio, highlighting its continued engagement in large-scale road infrastructure development across India.

Project Overview

The contract awarded to HG Infra Engineering involves the construction of a 6-lane (including partially elevated) highway corridor, along with improvement of the existing road from Km. 10+600 to Km. 64+000, covering Section Pune to Shirur of NH-753F with a minimum design length of 53.40 km in Maharashtra. The project has been assigned by Welspun Enterprises Limited, a prominent player in the infrastructure development space. The key details of the order are summarised below:

Strategic Significance

The ₹3,931.11 crore contract from Welspun Enterprises Limited is a substantial addition to HG Infra Engineering's order book, reflecting the company's capability to execute high-value highway projects. The Pune-Shirur corridor in Maharashtra, spanning NH-753F, is a key stretch that forms part of the broader road connectivity infrastructure in the region. The project is classified as a domestic, item rate contract with no related party interest involved, as confirmed in the regulatory disclosure. Winning such a large-scale project from an established infrastructure developer like Welspun Enterprises further establishes HG Infra Engineering's standing in the competitive highway construction segment.

H.G. Infra Engineering Limited has completed the divestment of its wholly owned subsidiary, marking a significant corporate restructuring move. The company announced the successful sale of its 100% equity stake in H.G. Raipur Visakhapatnam OD-6 Private Limited to Neo Infra Income Opportunities Fund on April 23, 2026.

Transaction Details

The divestment involved the transfer of the company's entire holding of 11,37,750 equity shares in the subsidiary. This transaction represents the culmination of a process that began with earlier announcements dated August 13, 2025, and November 06, 2025.

Financial Contribution of Subsidiary

H.G. Raipur Visakhapatnam OD-6 Private Limited made notable contributions to the parent company's consolidated financials for the year ended March 31, 2025.

Buyer Information

The acquirer, Neo Infra Income Opportunities Fund, is a registered scheme under Neo Credit Alternatives Investment Trust, operating as a Category II Alternative Investment Fund registered with the Securities and Exchange Board of India. The fund is managed by Neo Alternative Asset Managers Private Limited, a company incorporated under the Companies Act, 2013, with its registered office in Mumbai, Maharashtra.

Regulatory Compliance

The transaction has been structured as an arm's length deal and does not fall under related party transactions. The buyer does not belong to the promoter, promoter group, or group companies of H.G. Infra Engineering Limited. Following the completion of this sale, H.G. Raipur Visakhapatnam OD-6 Private Limited ceases to be a subsidiary of the company, effectively concluding the divestment process that was initiated in 2025.