H.G. Infra Engineering has reported uncertainty regarding two major Nagpur-Chandrapur Expressway packages. Although the company was previously declared the L1 bidder, the MSRDC recently returned the submitted bank guarantees without providing any formal justification. Consequently, the company has decided to exclude these projects, valued at over ₹4,142 crore combined, from its executable order book until further clarity is provided by the authorities.
Background on Project Awards
Following a disclosure made on May 21, 2024, H.G. Infra Engineering had been identified as the L1 bidder for two segments of the Nagpur-Chandrapur Access Controlled Super Communication Expressway. The projects included Package NC-04 (28.20 km) with a bid cost of ₹1,991.11 crore and Package NC-05 (31.75 km) with a bid cost of ₹2,151.11 crore. These projects were intended to be executed under the Engineering, Procurement, and Construction (EPC) mode.
Unexpected Developments
On May 20, 2026, the company announced that the bank guarantees submitted as bid security for these infrastructure works were unexpectedly returned by the Maharashtra State Road Development Corporation (MSRDC). No reasons were cited for this action, and despite subsequent attempts by the company to seek clarification, MSRDC has not provided a formal response or status update.
Impact on Order Book
In light of this development and the ongoing lack of transparency regarding the project status, the company has adopted a prudent stance. Effective immediately, these two projects have been removed from the firm’s executable order book. H.G. Infra Engineering remains committed to informing shareholders and the stock exchanges should any new material information or formal communication regarding these projects emerge from the authorities.
Source: BSE
