PNC Infratech Secured order worth Rs. 1434 crore

PNC Infratech is declared the L1 (lowest) bidder for NHAI project of six laning Chitradurga - Davanagere including Chitradurga bypass, design chainage km 0.0 to km 20.7 and Km 208 to km 260 of NH 48 (Old NH-4) in the state of Karnataka under NHDP V, to be executed on Hybrid Annuity Mode for a bid project cost of Rs. 1434.0 crore. Four firms participated in the bidding and the price bids were opened on Monday, March 6, 2017, with PNC’s bid being the lowest (L1). This is the second hybrid annuity project won by PNC, which has construction period of 2 ½ years and operation period of 15 years.

Furthermore, the company’s current order book stands at Rs. 5751 crore (excluding current order).

PNC Infratech, through its various subsidiaries and associate companies, has a portfolio of 7
operational BOT/ OMT projects as under:
1. Bareilly - Almora (Uttarakhand border) section of SH 37, BOT toll project
2. Kanpur - Kabrai section of National Highway 86, BOT toll project;
3. Gwalior - Bhind section of National Highway 92, BOT toll project;
4. Kanpur - Lucknow - Ayodhya section of NH 25, 56 A&B & 28, owned OMT project
5. Re-development & management of Narela Industrial Estate, New Delhi, BOT annuity project
6. Ghaziabad - Aligarh section of National Highway 91, BOT toll project; and
7. Raebareli-Jaunpur section of National Highway 231, BOT annuity project.

Reacting to the news, the company’s stock today opened gap up at Rs. 106 compared to previous close of Rs. 100.7 on the BSE. The stock is currently trading at Rs. 104 up 3.3 per cent.