PNC lnfratech arms achieve financial closure for two HAM projects

PNC lnfratech on Thursday announced that it's wholly owned subsidiaries, Hathras Highways and Yamuna Highways have achieved financial closure for two hybrid annuity mode (HAM) projects in Uttar Pradesh from National Highways Authority of India.

As per the regulatory filing, Hathras Highways' project entailed four laning of NH 530B from Gaju Village to Devinagar Bypass (End) in the State of Uttar Pradesh. The concession period is for 17 years and the bid project cost stood at Rs 738 crore.

Yamuna Highways' project consisted of four laning of NH 530B from Mathura Bypass to Gaju Village in the State of Uttar Pradesh. The concession period is for 17 years and the bid project cost stood at Rs 885 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 jumped 104.3% to Rs 240.66 crore on a 40.4% rise in net sales to Rs 2,052.88 crore in Q1 FY23 over Q1 FY22.

Shares of PNC Infratech slipped 1.53% to currently trade at Rs 274.05 on the BSE.

Powered by Capital Market - Live News