HG Infra Engineering Ltd, in joint venture with DEC Infrastructure and Projects (India) Pvt Ltd, has received the appointed date from the Rail Land Development Authority (RLDA) for its ₹21.96 billion redevelopment project of New Delhi Railway Station. This milestone marks the formal commencement of one of India’s most ambitious railway infrastructure upgrades, awarded under the EPC (Engineering, Procurement, and Construction) mode.
Key Highlights
- Appointed date confirmed for ₹21.96 billion New Delhi Railway Station redevelopment project
- Project awarded by RLDA to HG Infra–DEC JV under EPC model
- Construction period set at 45 months from June 22, 2024
- HG Infra holds 49% stake in the JV; DEC Infrastructure holds 51%
Project Scope and Strategic Importance
The redevelopment of New Delhi Railway Station is a flagship initiative under the Ministry of Railways’ modernization plan. The project includes:
- Complete overhaul of station infrastructure, including platforms, concourses, and passenger amenities
- Construction of multi-level access roads, integrated transport hubs, and commercial zones
- Installation of energy-efficient systems, digital signage, and smart surveillance
- Upgradation of tracks, signaling, and electrification to support high-speed rail operations
The revamped station is expected to handle over 800,000 passengers daily, transforming it into a world-class transit hub.
Financial and Operational Structure
The ₹21.96 billion contract was awarded after competitive bidding, with HG Infra emerging as the L-1 bidder. The appointed date of June 22, 2024, triggers the start of the 45-month construction timeline.
- The project cost is lower than RLDA’s original estimate of ₹24.69 billion, reflecting cost efficiency
- HG Infra’s 49% stake ensures significant operational control and execution responsibility
- The JV will deploy advanced construction technologies and modular design frameworks to meet deadlines
Execution Strategy and Readiness
HG Infra has already mobilized resources and finalized subcontracting for key components of the project.
- Land acquisition and utility shifting have been completed for Phase I
- Environmental and heritage clearances have been secured
- A dedicated project management team has been stationed in Delhi to oversee execution
The company is leveraging its experience from metro and expressway projects to ensure timely delivery.
Market Impact and Investor Sentiment
The announcement of the appointed date has boosted investor confidence in HG Infra’s execution pipeline.
- Shares of HG Infra Engineering Ltd rose 2.3% on the BSE following the news
- Analysts expect the project to contribute ₹4–5 billion annually to HG Infra’s topline over the next four years
- The company’s order book now exceeds ₹150 billion, with a strong mix of rail, road, and urban infrastructure projects
Broader Implications for Urban Mobility
The New Delhi Railway Station revamp is expected to catalyze urban transformation in the capital.
- Improved connectivity with metro, bus, and airport systems will reduce travel time and congestion
- Commercial development around the station is projected to generate over ₹10 billion in annual revenue for RLDA
- The project aligns with India’s Smart Cities Mission and National Infrastructure Pipeline goals
Conclusion
HG Infra Engineering’s receipt of the appointed date for the ₹21.96 billion New Delhi Railway Station redevelopment marks a pivotal moment in India’s infrastructure evolution. With execution now underway, the project promises to redefine urban mobility, passenger experience, and economic growth in the heart of the capital.
Sources: CNBC TV18, Moneycontrol, ICICIdirect, Marketshost
