PNC Infratech rose 0.6% to Rs 168 after the company said it received Letter of Award (LoA) for two separate road projects in Uttar Pradesh from National Highways Authority of India (NHAI).
PNC Infratech announced receipt of Letter of Award (LoA) from National Highways Authority of India (NHAI) for four laning of Aligarh-Kanpur section of National Highway (NH)-91 in Uttar Pradesh on HAM (hybrid annuity mode) under Bharatmala Pariyojana for a bid project cost of Rs 2052 crore on 9 March 2020. The price bids for the project were opened on 12 February 2020 and PNC's bid was the lowest (L1). Construction of this project is to be completed in 30 months.Further, the company also received an LoA from NHAI for four laning of Jagdishpur-Faizabad section of NH-330A in Uttar Pradesh on HAM under Bharatmala Pariyojana for a bid project cost of Rs 1530 crore, on 9 March 2020. The price bids for the project were opened on 10 February 2020 and PNC's bid was the lowest (L1). Construction of this project is to be completed in 24 months. Both the announcements were made during trading hours today, 11 March 2020.
PNC Infratech 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 a 61.2% surge in the net sales to Rs 1390.41 crore in Q3 December 2019 over Q3 December 2018.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
