PNC Infratech rises after new order win

PNC Infratech surged 1.41% to Rs 201.75 after the EPC company said it bagged two Hybrid Annuity Highway projects from National Highways Authority of India (NHAI).

PNC Infratech on Thursday said it has been declared the L1 (lowest) bidder for a NHAI project of four laning 70 km long Unnao-Lalganj section of NH-232 A in Uttar Pradesh. The project is to be executed on Hybrid Annuity Mode for a bid project cost of Rs 1602 crore. The project is to be constructed in 30 months and operated for 15 years post construction. This is the tenth hybrid annuity highway project secured by the company so far.

In a separate announcement on Wednesday, the company said it was declared the L1 (lowest) bidder for NHAI project of four laning 60.640 km-long Aligarh-Kanpur section of NH-91 in Uttar Pradesh. The project is to be executed on Hybrid Annuity Mode for a bid project cost of Rs 2052 crore.

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

On a consolidated basis, PNC Infra's net jumped 491% to Rs 66.90 crore on an 61.2% surge in the net sales to Rs 1390.41 crore in Q3 December 2019 over Q3 December 2018.

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