PNC Infratech JV wins water supply project in Uttar Pradesh

On Friday, PNC Infratech Limited announced that its joint venture with SPML Infra Limited has been declared as the L1 (lowest) bidder for rural water supply projects in 979 villages in the Devipatan division of Uttar Pradesh.

The company has a 95 per cent share in the JV. The approximate value of the EPC project is Rs 979 crore and the exact value would be known at the time of the agreement, after preparation and approval of DPR for the project, the company clarified in a press release to the exchanges.

The water supply project includes the survey, design, preparation of detailed project report (DPR), construction, commissioning, and operation & maintenance for 10 years in the said villages. The project is to be constructed and put on trial in 21 months upon signing of the agreement and then further operated for 10 years, post-commissioning. This is the second project secured by the company in the drinking water supply sector.

On Friday, the stock of PNC Infratech closed at Rs 164.60 per share, up by 0.64 per cent or Rs 1.05 per share on BSE, against a 1.34 per cent gain 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.