PNC Infratech JV bags first water supply project worth Rs 289 crore

On Monday, PNC Infratech informed the bourses that its joint venture with SPML Infra Limited has been declared as the L1 (lowest) bidder for the construction of Haraulipur group of villages (total 125) water supply project. The total consideration for the project is estimated to be Rs 289.83 crore.

The project comprises surface and groundwater supply schemes as well as allied works including commissioning, operation, and maintenance for 10 years in Hamirpur district of Uttar Pradesh. The project is to be constructed in 2 years and operated for 10 years, post-commissioning.

PNC Infratech order book stood at Rs 7,761 crore in Q1FY21. It expected to win another Rs 4,000 crore order inflows for the balance of the current fiscal year to achieve an order inflow target of Rs 7,000 crore for the fiscal year. The company expects orders of similar quantum in FY22. Its strong order book, lean balance sheet, and execution track record are likely to help the company weather the COVID-19 related impact.

PNC Infratech Limited is infrastructure construction, development, and management company, primarily engaged in the areas of infrastructure projects, including highways, bridges, flyovers, power transmission lines, airport runways, and other infrastructure activities. 

At 2.30 pm on Monday, the stock of PNC Infratech was trading at Rs 162 per share, down by 0.28 per cent or Rs 0.45 per share on BSE, against a 0.38 per cent decline in the benchmark index. The 52-week high is recorded at Rs 214.75 and the 52-week low is Rs 80.85 on BSE.