PNC Infratech jumped 5.32% to Rs 447.10 after the company announced that it has received a letter of acceptance (LoA) from Madhya Pradesh Public Works Department (M.P.P.W.D.), aggregating to Rs 699 crore.
The order includes construction of four lane elevated corridor/flyover from Maharani Laxmibai Pratima to A.B. Road (N.H. 46) near Girwai Police Chouki on Swarn Rekha River in Gwalior City (2nd phase) in the state of Madhya Pradesh on EPC Mode.
The order is to be executed within 36 months (including rainy season), said the firm.
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 companys consolidated net profit jumped 32.4% to Rs 185 crore on 13.5% increase in net sales to Rs 2046.64 crore in Q3 FY24 over Q3 FY23.
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