Rs 17,000 Crore Order Book: Civil Construction Company Secures Rs 3.13/kWh Solar Power Project with NHPC Limited

DSIJ Intelligence-2 / 16 Aug 2025/ Categories: Mindshare, Trending

The stock is up by 28 per cent from its 52-week low of Rs 235.70 per share.

PNC Infratech Limited has been awarded a significant contract by NHPC Limited for a solar power project. The company received the Letter of Award (LOA) on August 14, 2025, after a Tariff Based Competitive Bidding (TBCB) process and an electronic reverse auction.

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The project involves setting up a 300 MW Inter State Transmission System (ISTS) connected solar power project, which also includes a 150MW/600MWh Energy Storage System (ESS). This is a domestic contract with a Power Purchase Agreement (PPA) valid for 25 years from the Scheduled Commencement of Supply Date (SCSD), which is 24 months from the PPA's effective date. The broad consideration for this contract is Rs 3.13 per kWh. PNC Infratech has confirmed that this is not a related-party transaction and that neither its promoters nor any group companies have an interest in NHPC Limited.

PNC Infratech Limited is a prominent Indian infrastructure development, construction, and management company. The company is primarily engaged in a wide range of infrastructure projects, including highways, bridges, flyovers, airport runways, power transmission lines, and water projects. They offer end-to-end solutions, encompassing design, engineering, procurement, and construction services on a fixed-sum turnkey basis. The company also executes and implements projects under various models like 'Design-Build-Finance-Operate-Transfer' (DBFOT) and Hybrid Annuity Model (HAM).

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The company has a market cap of over Rs 7,800 crore. As of March 31, 2025, the company has a robust order book of Rs 17,000 crore (including contracts worth Rs 4,337 crore where the Appointed date is awaited). The shares of the company have a PE of 19.6x, an ROE of 15 per cent and an ROCE of 14 per cent. The stock is up by 28 per cent from its 52-week low of Rs 235.70 per share.

Disclaimer: The article is for informational purposes only and not investment advice.