PNC Infra jumps on winning 2 EPC projects from NHAI

PNC Infratech Limited has surged 8.9 per cent after receiving letters of acceptance (LOA) from National Highways Authority of India (NHAI) for two EPC projects for which, it had submitted bids on January 11, 2020. Both these projects are worth Rs 1,547.80 crore.

The first EPC project is worth Rs 758.40 crore, which is to be completed within 24 months. The project is for the construction of eight-lane access-controlled expressway starting from a junction with NH-47 near Bhamaiya village and ending at the junction with SH-175 in Baletiya village in Panchmahal district (Ch. 780+920 to 803+420; design Ch. 328+500 to Ch. 351+000) section of Delhi-Vadodara Greenfield Alignment (NH-148N) on EPC mode under Bharatmala Pariyojana in the state of Gujarat.

The second project is worth Rs 789.40 crore, which is also to be completed within 24 months. It is for the construction of eight-lane access-controlled expressway starting from a junction with SH-63 near Pratap Nagar village and ending at the junction with NH-1 near Dodka village of Vadodara district (Ch. 824+920 to Ch. 844+382; Design Ch. 372+500 to Ch. 391+962) section of Delhi-Vadodara Greenfield Alignment (NH-148N) on EPC mode under Bharatmala Pariyojana in the state of Gujarat.

As on March 31, 2020, the company’s order book stood at Rs 8,629 crore, of which, 99 per cent was constituted by road EPC projects. Considering its consolidated revenue of FY20, the book to bill ratio stands at 1.5x. The company has executed 66 major infrastructure projects spread across 13 states till now, of which, 43 are road EPC projects and is currently executing 20 projects.

On Friday, the stock of PNC Infra opened at Rs 148 and surged by 8.9 per cent to Rs 152.35 from its previous close of Rs 139.95 on BSE.