PNC Infratech advances after new order win

PNC Infratech rose 3.73% to Rs 155.80 at 09:39 IST on BSE after the company announced winning an order worth Rs 1157 crore for highway project in Karnataka.

The announcement was made after market hours yesterday, 17 July 2018.

Meanwhile, the S&P BSE Sensex was up 105.15 points, or 0.29% to 36,625.11

On the BSE, 9,780 shares were traded in the counter so far compared with average daily volumes of 38,000 shares in the past two weeks. The stock had hit a high of Rs 158.85 and a low of Rs 155.50 so far during the day. The stock hit a record high of Rs 228.40 on 26 December 2017. The stock hit a 52-week low of Rs 130 on 12 September 2017.

PNC Infratech announced signing of concession agreement on 16 July 2018 between National Highways Authority of India and Special Purpose Vehicle incorporated for the following Hybrid Annuity Mode (HAM) NH project, secured recently by the company. The project involves four laning of Challakere to Hariyur section of NH 150 A, in Karnataka. The bid project cost is Rs 1157 crore.

The project is to be constructed in 24 months upon declaration of appointed date and operated for 15 years, post construction. The company till date has secured total seven NH projects on Hybrid Annuity Mode for an aggregate bid project cost of Rs 9548 crore and concession agreements for all the seven projects were executed; four of which are under construction and three are under development.

Net profit of PNC Infratech rose 230.53% to Rs 111.52 crore on 116.48% rise in net sales to Rs 758.88 crore in Q4 March 2018 over Q4 March 2017.

PNC Infratech provides end-to-end infrastructure implementation solutions that include engineering, procurement and construction (EPC) services.

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