G R Infraprojects Ltd has officially denied recent media reports claiming the company won a Rs 23.9 billion railway contract. In a regulatory clarification, the infrastructure firm stated that the information circulating in certain publications is factually incorrect and misleading. The company emphasized that no such contract has been awarded and urged stakeholders to rely only on verified disclosures made through stock exchanges and official channels.
Here is a detailed overview of the clarification and the context surrounding the misreported claim.
Key Highlights From The Clarification
- G R Infraprojects denies winning any Rs 23.9 billion railway contract
- Company confirms no such award has been received from any authority
- Clarification issued to prevent misinformation and protect investor interests
- Recent confirmed contract pertains to Nagpur Metro Phase 2, valued at Rs 903.5 crore
Background To The Media Misreporting
The confusion appears to have stemmed from recent announcements regarding G R Infraprojects’ successful bid for a metro infrastructure project. On September 23, 2024, the company was declared the lowest bidder for Package C-02 of the Nagpur Metro Phase 2 project, awarded by Maharashtra Metro Rail Corporation Ltd. The contract, valued at Rs 903.5 crore, involves the construction of a 17.624 km elevated viaduct and a 1.14 km double-decker section.
However, some media outlets erroneously reported this as a railway contract worth Rs 23.9 billion, leading to speculation and misinformation in the market.
Confirmed Project Details: Nagpur Metro Phase 2
The actual project awarded to G R Infraprojects includes:
- Design and construction of a viaduct along Reach 1A of the Nagpur Metro Orange Line
- Two special spans over Indian Railways tracks measuring 79 metres and 100 metres
- A six-lane double-decker section for vehicular and metro train movement
- Completion timeline of 30 months under the EPC mode
The project is financed by a $200 million loan from the Asian Development Bank and is expected to begin construction in early 2025.
Company’s Response And Investor Communication
G R Infraprojects issued its clarification through a stock exchange filing, reiterating its commitment to transparent communication. The company stated that:
- It has not received any railway contract worth Rs 23.9 billion
- All official project awards are disclosed through regulatory filings
- Investors and media should verify information before dissemination
The company’s proactive response aims to prevent market speculation and uphold its reputation for regulatory compliance.
Implications For Stakeholders
The clarification is important for multiple stakeholders:
- Investors are advised to rely on verified disclosures to avoid misinformed trading decisions
- Analysts tracking infrastructure contracts should distinguish between metro and railway projects
- Media outlets are urged to cross-check facts with official sources before publishing sensitive financial information
G R Infraprojects continues to maintain a strong order book across highways, metro systems, and power transmission projects.
Conclusion: G R Infraprojects Sets Record Straight On Misreported Rail Contract
G R Infraprojects Ltd has categorically denied media reports suggesting it won a Rs 23.9 billion railway contract, clarifying that no such award has been received. The company’s actual recent win pertains to a Rs 903.5 crore metro infrastructure project in Nagpur. By issuing a timely clarification, G R Infraprojects has reinforced its commitment to transparency and protected investor interests from misinformation. As the company continues to expand its infrastructure footprint, accurate reporting and regulatory compliance remain central to its stakeholder engagement.
Sources: G R Infraprojects official media disclosures, CNBC TV18, The Metro Rail Guy, Economic Times Infrastructure
