Indian construction firm H.G. Infra Engineering Limited (HGINFRA) has been given a Letter of Intent (LOI) to build a 300-MW/600-MWh battery for a large energy storage project in the state of Gujarat. The LOI was finalized between Greenko and state utility Gujarat Urja Vikas Nigam Ltd. (GUVNL), Greenko Energy reported on Friday.
In October 2022, the project was given to HGINFRA because it performed well in the Phase VI tender for battery energy storage systems (BESS) from GUVNL, which was conducted as a tariff-based bidding process. The EPC firm needs to complete the project within the next two years, which is estimated to need about INR 6.7 billion (equivalent to USD 78.4 million or €68.7 million). Apart from the BESS, it has to establish a link between itself and the state’s transmission system as well.
Towards the end of last year, HGINFRA was chosen as a winner in GUVNL’s Phase IV auction and received approval for a 250-MW/500-MWh battery project with support from India’s Viability Gap Funding (VGF).
Q4 Report for H.G. Infra Engineering
For the quarter ended March 2025, its revenue from operations was ₹1,360.89 crore, having decreased by 20.33% from ₹1,708.26 crore reported in the same quarter of 2024. During the quarter, profit after tax (PAT) tumbled by 46.66% to ₹134.32 crore from ₹251.80 crore in March 2024.
The company’s revenue from operations was ₹5,056.18 crore in FY25, which is 5.99% less than the ₹5,378.48 crore it earned in FY24. The PAT for the full fiscal year decreased by 8.17% from last year to ₹662.80 crore in FY25 from ₹721.76 crore in FY24.
This company has been involved in the construction, development, design, and management of Indian infrastructure projects for more than 21 years. Their main activities are engineering, procurement, and construction (EPC), as well as repair and maintenance of roads, bridges, flyovers, and other types of contracts.
H.G. Infra Engineering is engaged in hybrid annuity model (HAM) projects and has expanded its work to cover railways,etros, and solar and Battery Energy Storage Systems (BESS). Almost 15 states in India benefit from the company’s services, which are provided to government and private sectors alike.
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