HG Infra Engineering has announced that its wholly owned subsidiary, H.G. Bahuvan Jagarnathpur Highway Private Limited, has successfully received financial closure for a significant highway development project in Uttar Pradesh. The financial closure letter was issued by the Executive Engineer, National Highway Division, PWD, Ayodhya on March 06, 2026.

Project Overview

The project involves the improvement and up-gradation of the newly declared NH 227B Bahuvan Madar Majha to Jagarnathpur section, specifically from Design Km 160.200 to Km 224.040, known as the "84 Kosi Parikrama Marg" in Uttar Pradesh. This infrastructure development is being executed under Package VI of the larger highway improvement initiative.

Project Specifications

The project will upgrade the existing highway infrastructure to a two-lane configuration with paved shoulders, enhancing connectivity and transportation efficiency in the region. The Hybrid Annuity Mode structure provides a balanced approach to project financing and risk allocation.

Regulatory Compliance

The announcement was made in compliance with Regulations 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This disclosure follows previous announcements made by the company on July 25, 2024, December 10, 2024, January 23, 2025, and January 16, 2026, maintaining transparency with stakeholders regarding project developments.

Strategic Significance

The financial closure represents a crucial milestone in the project's execution timeline, enabling the commencement of construction activities. The 84 Kosi Parikrama Marg holds religious and cultural significance, and its improvement will facilitate better pilgrimage and commercial traffic movement in the region. The project's completion will contribute to enhanced road infrastructure in Uttar Pradesh, supporting regional economic development and improved connectivity.

HG Infra Engineering Limited has successfully completed its first interest payment on Non-Convertible Debentures (NCDs), demonstrating its commitment to timely debt servicing obligations. The infrastructure company made the payment in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Interest Payment Details

The company paid ₹17,14,68,400 as interest on its ₹400 crore NCD issue. The payment covered interest on 40,000 Senior Rated Listed Unsecured Redeemable Non-Convertible Debentures, each with a face value of ₹1,00,000.

Payment Timeline and Compliance

The interest payment followed a structured timeline with specific dates for record and payment purposes. The company adhered to the Business Day Convention as agreed in the financing arrangement.

The payment was made on March 02, 2026, instead of the original due date of February 28, 2026, following the Business Day Convention agreed upon in the financing arrangement. This represents the first interest payment post-issuance of these debentures.

Regulatory Compliance

HG Infra Engineering Limited filed the mandatory certificate with BSE Limited under Regulation 57 of SEBI regulations. The certificate confirms timely payment of interest and provides comprehensive details of the payment structure. Company Secretary and Compliance Officer Ankita Mehra signed the compliance certificate, ensuring proper documentation of the payment.

The debenture trustee, Catalyst Trusteeship Limited, was also notified of the payment completion. The company maintained full transparency by providing detailed information about the payment process and confirming no delays or non-payment issues occurred during this cycle.