HG Infra, a construction company, announced Wednesday that it has been named the lowest bidder by the National Highways Authority of India (NHAI) for a project worth Rs 764 crore for the Hybrid Annuity Mode Project. (HAM).

The company revealed in its grant application that the cost of the bidding project was Rs 925.1 crore, while the NHAI estimated the project cost at Rs 764 crore. The bid is for the development of a six-lane Greenfield Varanasi-Ranchi-Kolkata highway. HG Infra plans to complete the project in 730 days.

On March 21, the North Central Railway in Kanpur declared the construction agency the lowest bidder for a project worth Rs 677.3 crore. HG Infra had previously been named the lowest bidder for an NHAI project worth Rs 998.36 crore.

HG Infra shares closed 0.6 percent higher at Rs 773.8.