GHV Infra Projects Ltd on Thursday announced it has received a work order worth ₹546 crore (excluding GST) from GHV (India) Pvt Ltd for strengthening and improving roads in Mumbai.
The project, classified as domestic road construction work, is scheduled for completion within 24 months.
The company disclosed that the awarding entity, GHV India, is related to its promoter group. Jahidmohmed H. Vijapura, a director and shareholder in GHV India, is also a deemed promoter of GHV Infra through JHV Commercials LLP, which holds a significant stake in the company. The contract, however, has been finalised on an arm’s length basis.
This follows a larger ₹1,060 crore order secured in March this year from the same entity for designing and constructing elevated viaducts, stilts over mangroves, and mandatory span bridges in Maharashtra. That project is expected to be completed within 48 months.
Shares of GHV Infra Projects ended the day at ₹735.80 on the BSE, up 2%, ahead of the announcement.
