PNC Infra rises on receiving confirmation for Rs 771-cr project from HRIDC

PNC Infratech added 1.33% to Rs 288.75 after the company informed about the receipt of 'notification of intention to award' from Haryana Rail Infrastructure Development Corporation (HRIDC) for Rs 771.46 crore project.

The project involves design and construction of civil works and its connectivity to Indian Railways network from New Patli to Patli Station and New Patli to Sultanpur Station including modifications/civil works at Sultanpur Station in connection with laying of new BG double railway line of Haryana Orbital Rail Corridor (HORC) Proiect in Haryana.

The quotes price for the said project is Rs 771.46 crore and the construction period for the same is 30 months.

PNC Infratech is engaged in India's infrastructure development through the construction of highways including BOT (built, operate and transfer projects), HAM (Hybrid Annuity Model), airport runways, bridges, flyovers and power transmission projects, among others.

The company consolidated net profit jumped 68.3% to Rs 139.69 crore on 4.7% rise in net sales to Rs 1,803.28 crore in Q3 FY23 over Q3 FY22.

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