PNC Infratech bags two orders worth Rs 4,994 cr from MSRDC

PNC Infratech said that it has been declared as lowest bidder (L1) for two EPC projects of Maharashtra States Road Development Corporation (MSRDC ) for an aggregate value of Rs 4,994 crore.

The first project includes construction of access controlled Pune ring road in Pune district package PRR E2 from lndori To Chimbali (Length: 13.800 Km) in the State of Maharashtra on EPC Mode. The quoted amount for construction project is Rs 2,486 crore and construction period will be 30 months.

The second project includes construction of access controlled expressway connector to Hindu Hrudaysamrat Balasaheb Thackeray Maharashtra Samruddhi Mahamarg from Jalna to Nanded in Maharashtra. The project will be executed using the Engineering, Procurement, and Construction (EPC) mode with a quoted construction cost of Rs 2,508 crore. The estimated completion timeline is 30 months.

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.

The scrip shed 0.32% to end at Rs 456.75 on Tuesday, 21 May 2024.

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