PNC Infratech bags NHAI project worth Rs 1,602 crore in UP

PNC Infratech Limited has bagged NHAI project in Uttar Pradesh worth Rs 1,602 crore. The project includes construction of 70-km long four laning of Unnao-Lalganj section of NH 232A in Uttar Pradesh under NHDP IVB to be executed on Hybrid Annuity Model (HAM).

The project is to be constructed in 30 months and operated for 15 years post construction. This is the tenth hybrid annuity highway project secured by the company so far.

On Wednesday, NHAI project of 60.64-km long four laning of Aligarh-Kanpur section of NH91 in the state of Uttar Pradesh under Bharatmala Pariyojna is set to be executed on Hybrid Annuity Model. The project is worth Rs 2,052 crore and this too, will be constructed in 30 months and operated for 15 years post construction.

The company’s order book as on December 31, 2019 stood at Rs 8,696 crore which translates book to bill of 2.3x, considering its consolidated revenue of Rs 3,774 crore in FY19.

On Thursday, the stock of PNC Infratech opened at Rs 205.65. During the day, it surged 4.1 per cent, making an intraday high of Rs 207 on BSE.