HG Infra Engineering Limited (HGINFRA) has made significant progress on its recently awarded highway project from the National Highways Authority of India (NHAI). The company has received a provisional start date for the Varanasi-Ranchi-Kolkata Highway project, marking a crucial milestone in the project's timeline.

Project Details

The project, valued at ₹925.11 crores, involves the construction of a 6-lane Greenfield highway spanning 28.70 kilometers. Specifically, it covers the stretch from the junction with NH320 in Lepo village to Kamlapur village (JH/WB border), from km 358.500 to km 387.200. This segment is part of the larger Varanasi-Ranchi-Kolkata Highway and falls under the Bharatmala Pariyojana initiative in the state of Jharkhand.

Key Highlights

Project Execution

The project will be executed by "H.G. Varanasi-Kolkata PKG-13 Private Limited," a wholly-owned subsidiary of HG Infra Engineering Limited. This arrangement aligns with common practices in the infrastructure sector, where special purpose vehicles (SPVs) are often created for specific projects.

Significance

This project is a significant addition to HG Infra Engineering's portfolio and underscores the company's growing presence in India's infrastructure development sector. The Varanasi-Ranchi-Kolkata Highway is an important part of the Bharatmala Pariyojana, a centrally-sponsored and funded road and highways project of the Government of India.

Disclosure Compliance

In compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, HG Infra Engineering has promptly disclosed this development to the stock exchanges. The company had previously made announcements related to this project on March 22, March 31, and April 26, 2023, demonstrating its commitment to keeping investors informed about significant business developments.

As infrastructure development continues to be a key focus area for India's economic growth, projects like these are crucial for improving connectivity and fostering economic activities across regions. Investors and industry observers will likely keep a close watch on HG Infra Engineering's execution of this project over the next two years.

HG Infra Engineering Limited (HGINFRA) has announced a strategic move to bolster its leadership team with the appointment of Dr. Puneet Gupta as Head of New Energy Verticals. The company, known for its infrastructure development projects, is set to expand its footprint in the emerging energy sector with this key addition to its senior management.

Appointment Details

Dr. Gupta's appointment, effective October 1, 2025, marks a significant step for HGINFRA as it categorizes him as Senior Management Personnel. This full-time position underscores the company's commitment to diversifying its portfolio and embracing new energy solutions.

Dr. Gupta's Background

Dr. Puneet Gupta brings a wealth of experience and expertise to his new role:

• Education: Bachelor's degree in Chemical Engineering from IIT Mumbai, Master's degree and PhD in Chemical Engineering from Washington University, St. Louis.
• Professional Experience: Over 20 years in business management across technology, project engineering, finance, and operations sectors.
• Previous Roles:
  • Managing Director at Venabo Pte. Ltd, Singapore
  • Joint-President and Senior Vice-President & CTO at Adani Enterprises' Solar Manufacturing division
  • Vice-President of Polysilicon R&D & Technology Commercialization at GCL Solar Materials, USA/Singapore
  • Director at SunEdison Products Singapore Pte. Ltd
  • Chief Technology Officer at Samsung MEMC Polysilicon, South Korea

Industry Expertise

Dr. Gupta's experience in the solar and polysilicon industries positions him well to lead HGINFRA's new energy initiatives. His background spans:

• Technology development and commercialization
• Project management and engineering
• Financial operations
• Supply chain management
• Business development and marketing
• Research and development
• Legal and intellectual property creation

Strategic Implications

The appointment signals HGINFRA's intent to expand its operations into new energy verticals, potentially diversifying the company's portfolio beyond traditional infrastructure projects and tapping into the growing renewable energy sector.

Company's Statement

In its regulatory filing, HG Infra Engineering Limited stated, "Dr. Puneet Gupta has been appointed as Head - New Energy Verticals, categorized as Senior Management Personnel (SMP) of the Company, effective from October 01, 2025."

This strategic appointment underscores HGINFRA's commitment to growth and innovation in the evolving energy landscape.