HG Infra Engineering Limited has disclosed to stock exchanges that search operations were conducted by investigative agencies at multiple company locations on January 21, 2026. The infrastructure company filed the disclosure under Regulation 30 and 51 of SEBI Listing Regulations on January 22, 2026.

Search Operation Details

The Central Bureau of Investigation (CBI) and Anti-Corruption Bureau (ACB), Patna conducted simultaneous search operations at three company locations. The searches were carried out under case number RC 0232026A0005 under sections 61(2) read with sections 7, 7A, 8 and 9 of the Prevention of Corruption Act, 1988 (as amended in 2018).

Locations Searched

The search operations covered three strategic locations of the company across different states. The corporate office in Jaipur, regional office in Gurugram, and a project site office in Bihar were simultaneously searched by the investigative teams.

Company Response and Impact

HG Infra Engineering stated that it fully cooperated with officials during the proceedings and responded to all clarifications and details sought by the investigating agencies. The company has committed to providing any further clarification or information that may be required in the ongoing investigation.

The company emphasized that its business operations continue as usual and remain unimpacted due to the search operations. However, the company acknowledged that details of violations or contraventions cannot be ascertained at this point, and the financial impact is not quantifiable in monetary terms currently.

Regulatory Compliance

The disclosure was made in compliance with SEBI Listing Regulations, specifically under Regulation 30 and 51 read with Schedule III. Company Secretary and Compliance Officer Ankita Mehra signed the regulatory filing on January 22, 2026. The company has assured stock exchanges that it will provide updates on any further developments in this matter.

HG Infra Engineering Limited announced that its wholly owned subsidiary, HG Bahuvan Jagarnathpur Highway Private Limited, has received the appointed date for a major highway project in Uttar Pradesh. The company informed stock exchanges on January 16, 2026, that the Superintending Engineer National Highways Circle PWD Lucknow has declared the appointed date for the project's commencement.

Project Details and Specifications

The highway project involves comprehensive improvement and up-gradation work on the newly declared NH 227B stretch, specifically the Bahuvan Madar Majha to Jagarnathpur section. This segment, also known as the "84 Kosi Parikrama Marg," represents a significant infrastructure development in Uttar Pradesh.

Recent Financial Performance

HG Infra Engineering reported challenging second quarter results, with net profit declining significantly year-on-year. The company's financial performance reflected margin pressures despite stable revenue growth.

Project Scope and Strategic Impact

The project encompasses the transformation of the highway stretch into a two-lane configuration with paved shoulders, enhancing connectivity and safety standards along this crucial route. The Hybrid Annuity Mode structure indicates a public-private partnership approach, combining elements of both Engineering, Procurement, and Construction (EPC) and Build, Operate, Transfer (BOT) models. The company confirmed that the project award and execution fall within the normal course of business.

Market Performance and Outlook

Shares of HG Infra Engineering ended at ₹684.40, down by ₹10.90, or 1.57%, reflecting market sentiment amid the mixed financial results. The appointed date declaration marks the formal commencement authorization for this substantial infrastructure project, representing a significant addition to the company's portfolio in the highway development sector under the Hybrid Annuity Mode framework.