According to a press release filed with the exchanges, the project has been awarded to the Aakshya-HCC joint venture, in which HCC holds a 49% stake.
The scope of work includes the construction of a second-level flyover spanning 1,330 metres, along with at-grade roads and free-left movements.
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The project also includes a cloverleaf interchange, bypasses, a 180-metre cable-stayed span, and associated ramps, the company said.
HCC said the GMLR corridor is a key infrastructure project aimed at improving east-west connectivity in Mumbai, easing traffic congestion and enhancing urban mobility.
The contract further strengthens HCC’s presence in the transportation infrastructure segment, where it has executed several large-scale projects across highways, tunnels and bridges.
For the December quarter, the infrastructure company reported a net profit of ₹8 crore compared with a loss of ₹38.9 crore in Q3FY25. Revenue fell 8.1% year-on-year to ₹925.3 crore from ₹1,006 crore. EBITDA rose sharply, standing at ₹67.2 crore compared with an EBITDA loss of ₹30.7 crore last year.
Following the announcement, shares of the company surged, hitting intraday highs of ₹15.72. The stock has since pared some gains and was trading 1.34% down at ₹15.44 as of 11.15 am. It has declined 18.03% over the last month.
