HG Infra Engineering Limited (HGINFRA) has achieved a significant milestone in the infrastructure sector. The company, in a joint venture with Kalpataru Projects International Limited, has been declared the L-1 (lowest) bidder for a major metro project contract valued at Rs 14.15 billion (Rs 1,415 crore) by Maharashtra Metro Rail Corporation Limited.

Project Details

The project involves the design and construction of an elevated metro viaduct spanning 20.527 kilometers between UG Ramp and Balkum Naka. This includes the construction of a depot approach viaduct and three special spans for the Thane Integral Ring Metro Project. Here are the key details of the project:

Joint Venture Structure

In this significant infrastructure undertaking, HG Infra Engineering Limited holds a 40% stake in the joint venture, while Kalpataru Projects International Limited holds the majority 60% share.

Company Disclosure

As per the regulatory filing, HG Infra Engineering Limited has made this announcement in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that this project does not fall under related party transactions, and there is no interest from the promoter or promoter group in the entity awarding the contract.

Market Implications

This contract win represents a substantial addition to HG Infra Engineering's order book and a significant business opportunity in their infrastructure development portfolio. The project's scale and the company's involvement in critical urban infrastructure development could potentially boost investor confidence in the company's growth prospects and execution capabilities.

The successful completion of this project could position HG Infra Engineering more strongly in the competitive infrastructure sector, particularly in the rapidly expanding metro rail segment across India.

HG Infra Engineering Limited has announced the establishment of a wholly-owned subsidiary, H.G. Clean Energy Solutions Private Limited, marking its strategic entry into the renewable energy sector. The new entity, incorporated on November 20, 2025, aims to focus on solar, green hydrogen, and battery energy storage systems.

Key Details of the New Subsidiary

Strategic Implications

The formation of this subsidiary represents HG Infra Engineering's strategic expansion into the growing renewable energy sector. By venturing into clean energy solutions, the company aims to diversify its portfolio and potentially capitalize on the increasing demand for sustainable energy technologies.

Financial Commitment

HG Infra Engineering has made an initial investment of ₹15.00 lakh in the new subsidiary, demonstrating its commitment to this new venture. This investment covers the entire subscribed capital of H.G. Clean Energy Solutions Private Limited.

Regulatory Compliance

The company has duly informed the stock exchanges about this development, in compliance with Regulations 30 & 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The incorporation of the subsidiary is considered a related party transaction, as disclosed in the company's filing.

Future Outlook

While the newly formed subsidiary is yet to commence business operations, its focus on solar, green hydrogen, and battery storage solutions positions it at the forefront of emerging clean energy technologies. The impact of this venture on HG Infra Engineering's overall business performance remains to be seen as the subsidiary begins its operations.