PNC Infratech rose 2.09% to Rs 268.25 after the company received letter of acceptance (LOA) for a user fee collection mandate in NCR from National Highways Authority of India (NHAI).
In an exchange filing made a during market hours today, the company said that the LoA from NHAI is for collection of user fee at 135 km long Eastern Peripheral Expressway fee plazas (National Highway No. NE II) in the States of Haryana and Uttar Pradesh for one year, for a contract value of Rs 369 crore.
PNC Infratech is engaged in infrastructure development through the construction of highways including BOT (built, operate and transfer projects), airport runways, bridges, flyovers and power transmission projects among others.
The company's consolidated net profit rose 68.41% to Rs 132.47 crore on a 43.99% to Rs 1,797.69 crore in Q2 FY22 over Q2 FY21.
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