Project Execution / Operational Update
GR Infraprojects Executes ₹2,440.87 Crore NHAI Concession Agreement for Bihar Highway Project
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GR Infraprojects Limited announced that its wholly owned subsidiary, Munger Link Highway Private Limited, has executed a concession agreement with the National Highways Authority of India (NHAI) for a four-lane greenfield highway project in Bihar under the Hybrid Annuity Mode (HAM). The estimated project cost stands at ₹2,440.87 crore.
PRICE-SENSITIVE TRIGGER
Event: Execution of concession agreement with NHAI for Bihar highway project.
Type: Project Execution / Operational Update
Impact: Positive
Immediate Effect: The agreement strengthens GR Infraprojects’ infrastructure project pipeline and enhances long-term revenue visibility.
Key Metrics:
- Estimated Project Cost stands at ₹2,440.87 crore
- Project awarded under Hybrid Annuity Mode (HAM)
- Construction period set at 910 days
- Project relates to development of a 4-lane greenfield highway section
Highlight Metric:
- ₹2,440.87 Crore NHAI Highway Project Executed
What Happened ?
GR Infraprojects informed exchanges that its wholly owned subsidiary, Munger Link Highway Private Limited, has executed a concession agreement with the National Highways Authority of India on May 14, 2026.
The project involves construction of a four-lane greenfield section of NH-33 from Mokama to Munger in Bihar under the Hybrid Annuity Mode (HAM).
The agreement marks another major addition to the company’s road infrastructure portfolio and strengthens its execution pipeline in the highways segment.
key highlights
Project Scope:
- Construction of 4-lane greenfield section of NH-33
- Stretch from Mokama to Munger in Bihar
- Project to be executed under Hybrid Annuity Mode (HAM)
- Executed through wholly owned subsidiary Munger Link Highway Private Limited
Note:
- The project is part of NHAI’s highway infrastructure expansion initiatives.
Execution Timeline:
- Completion period fixed at 910 days from appointed date
- Project awarded under concession agreement structure
- NHAI is the awarding authority
Risk Analysis
Key Risks:
- Delays in land acquisition or approvals may impact execution timelines
- Cost escalation in materials and labour could affect profitability
- HAM projects involve long working capital cycles
- Delayed payments or execution bottlenecks may impact cash flows
Worst Case Scenario:
- Project execution delays or cost overruns may pressure margins and delay revenue realization.
Risk Level: Medium
Company Commentary
- GR Infraprojects confirmed execution of concession agreement through its wholly owned subsidiary.
- The company stated that the project will be developed under Hybrid Annuity Mode.
- The project relates to construction of the Mokama–Munger greenfield highway section in Bihar.
- Estimated project cost stands at ₹2,440.87 crore excluding GST.
Official Exchange Filing: GR Infraprojects Limited