PNC Infra spurts on bagging Rs 2,040-crore project from CIDCO

PNC Infratech gained 3.43% to Rs 455.70 after the company received an order worth Rs 2,039.61 crore from the City & Industrial Development Corporation of Maharashtra (CIDCO) for infra-development in Navi Mumbai's NAINA region.

The project entails integrated infrastructure development of 20 meters and above wide roads, construction of various major & minor structures (flyover, minor bridges, VUPS, PUPS, etc.), and allied electrical works (street lighting) in TPS - 8, 9, and 12 under the Navi Mumbai Airport Influence Notified Area (NAINA) project.

The project is to be executed within 1,460 days and the cost of the project is Rs 2,039.61 crore.

PNC Infratech (PNCIL) 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. The Company provides end-to-end infrastructure implementation solutions, including EPC services on a fixed-sum turnkey basis.

The companys consolidated net profit zoomed to Rs 575.17 crore in Q1 FY25 as against Rs 180.62 crore reported in Q1 FY24. Net sales was at Rs 2167.51 crore in the June quarter, up 3.6% from Rs 2091.70 crore posted in Q1 FY24.

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