Annual Report

HGIEL/HO/COMPLIANCE/2026-27/678 July 28, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block G Dalal Street Bandra Kurla Complex, Bandra (East) Mumbai- 400 001 Mumbai- 400 051 Scrip Code- 541019/ 977063 Scrip Symbol- HGINFRA Dear Sir/Madam, Sub: Notice of the 24th Annual General Meeting and Annual Report for the Financial Year 2025- This is to inform you that the 24th Annual General Meeting (“AGM”) of the Members of the Company will be held on Wednesday, August 19, 2026, at 02:00 p.m. (IST) through Video Conference (VC)/ Other Audio Visual Means (OAVM) in accordance with the applicable circulars issued by the Ministry of Corporate Affairs (“MCA”) and the Securities and Exchange Board of India (“SEBI”) to transact the businesses as listed in the Notice of the AGM. Pursuant to Regulations 34 & 53 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), as amended, from time to time, we are submitting herewith the Annual Report of the Company including the Business Responsibility and Sustainability Report and the Notice of the AGM for the financial year 2025- 26 which is being sent only through electronic mode to all those Members of the Company whose email addresses are registered with the Company/ Company's Registrar and Transfer Agent/ Depository Participants. The Annual Report containing the Notice of the AGM and the Business Responsibility and Sustainability Report is also being made available and can be accessed/ downloaded from the Company’s website at www.hginfra.com This is for your information and records. Thanking you, Yours faithfully, For H.G. Infra Engineering Limited Ankita Mehra Company Secretary & Compliance Officer Mem. No. – A33288 Encl: As above Annual Report 2025-26 RESILIENCE IN ENGINEERING FOR SUSTAINABLE & SCALABLE TOMORROW Contents Statutory Reports 60 Management Discussion and Analysis 72 Board’s Report 108 Corporate Governance Report 153 Business Responsibility & Sustainability Reporting Corporate Overview 02 The Company Behind the Projects 04 A Legacy of Doing Things Right 06 Across India, On the Ground 08 The Numbers Behind the Progress 10 The Making of H. G. INFRA Some things are built to meet a The past year, like many before it, brought its 12 Message from the Chairman & Managing Director share of challenges and changing realities. Yet, 14 Message from the Chief Financial Officer Financial need. Others are built to stand across geographies, sectors and project sites, our 16 Progress through the Years Statements the test of time. At H.G. Infra teams continued to move forward with the same 17 Shifts Shaping Our Sector Engineering Limited, we have focus that has shaped our work for over two 18 Value Creation Model 191 Standalone Financial Statements always believed that infrastructure decades. Progress in our business has never been 20 The Work We Deliver 309 Consolidated Financial Statements about taking the easiest path; it has come from 30 The Way We Deliver 444 Notice of Annual General Meeting belongs to the latter. The roads staying committed to doing things well, even 32 Keeping Pace with Progress -Technology Integration we construct, the rail networks we when conditions are demanding. The confidence 34 ESG - A Broader Measure of Performance we carry today is not built on promises. It is built help develop, the energy assets we 36 Environment – Building with Care on experience, on lessons learned, and on a track create and the systems we put in 40 A Workforce that Grows with Us record of delivering where it matters most. 46 Social To know more about us place are not meant only for today. As India's infrastructure landscape continues to 52 Guided from the Top visit our website: They become part of people’s expand, the expectations from companies like ours 54 Prepared for What Lies Ahead https://hginfra.com/ daily lives, supporting movement, are growing as well. We welcome that responsibility. 56 Leadership at the Helm commerce and growth year after It pushes us to think beyond the immediate task 59 Corporate Information at hand and consider the wider impact of what we year. That understanding brings create. With every project we undertake, we remain with it a sense of responsibility— focused on building assets that will continue to one that influences every decision serve communities, support economic activity and For more information, retain their value over the long term. This belief has please scan the QR code we make, from planning and guided us from the beginning, and it continues to design to execution on the ground. shape the way we look at the future. H.G. Infra Engineering Limited 02 03 Annual Report 2025-26 Corporate Overview Statutory Reports Financial Statements The Company Behind the Projects Creating infrastructure that connects Vision Our Mission people, places and possibilities. “To be amongst the most admired and  To create world-class assets and creativity to overcome challenges and most trusted infrastructure companies in infrastructure to provide the platform for attain goals, encourage ideas, talent and the country, delivering qualitative, reliable faster & consistent growth for India to value systems. At H G INFRA, we have always believed that infrastructure is about more than creating and quality “creations & services” to all become the world’s economic power. physical assets. Every project we undertake, whether it is a national highway traversing customers at competitive costs, with highest  To be a technology-driven, efficient and standards of infrastructure creations, setting  To earn the trust and confidence of all financially sound organisation. challenging terrain or an urban flyover easing the daily commute of millions, becomes part customers and stakeholders, exceeding new benchmarks in standards of corporate of a larger network that keeps people, businesses and communities connected. The work performance and governance through their expectations and make the company  To consistently achieve high growth with the highest levels of productivity, holding a respected household name. we do influences how people travel, how goods move, and how regions gain access to new the pursuit of operational and financial guiding principles of trust, integrity and excellence, responsible citizenship and possibilities. It is a responsibility we carry with every project we deliver.  To promote a work culture that fosters transparency in all aspects of interactions profitable growth, thereby creating superior individual growth, team spirit and and dealings. value for all the stakeholders and contribute significantly in growth of this sector.” Over the past two decades, we have steadily expanded our capabilities and broadened our presence across India’s infrastructure sector. What began as a focused roads and highways business has grown into a diversified infrastructure Company with expertise across EPC and Hybrid Annuity Model projects. Today, our portfolio spans railways, metro systems, water infrastructure, solar power, battery energy storage, transmission and distribution projects. With operations extending across more than fifteen states, we continue to contribute to some of the country’s most important infrastructure. Passion What sets us apart is the way we execute. Backed by a large in-house equipment fleet, a highly experienced workforce, and Our Our ethos is “Trust”, “Passion” and “Quality”. continued investments in construction technologies, we maintain close control over project quality, efficiency and delivery These are intact and constantly keep on schedules, even on large and technically demanding assignments. This ability to execute consistently has earned the trust of central Trust Values pushing us to deliver the best quality and state authorities and enabled us to build enduring relationships with organisations such as the Ministry of Road Transport infrastructure for the natio [Showing first 8,000 characters — download PDF for full document]