PNC Infratech wins NHAI project worth Rs. 1,062 crore

PNC Infratech on Thursday informed the bourses that it has been the lowest bidder for National Highways Authority of India’s (NHAI) project of construction of 31.7 km long Four Lane Bypass connecting NH-56 at km 17.400 and terminating near Behta Village Road under NHDP Phase-VII on EPC mode, namely Lucknow Ring Road Package I for a quoted price of Rs. 1,062 crore. Construction of this project is to be completed in 36 months.

As on Q1FY120, the company’s order book stood strong at Rs. 10,950 crore which translates into book-to-bill of almost 3x, giving strong revenue visibility for next 3 years.

In the recently concluded quarter, the company reported stellar revenue growth of 66.5 per cent yoy to Rs. 1525 crore. Also, profit after tax jumped nearly 51 per cent yoy to Rs. 178 crore.

PNC Infratech is an infrastructure construction, development and management company, with expertise in execution of major infrastructure projects, including highways, bridges, flyovers, airport runways, power transmission lines, development of industrial areas and other infrastructure activities.

With this positive development, the stock of PNC Infratech opened gap up at Rs. 181.80 apiece as against previous close of Rs. 178.60. At 11.26 hours the stock was trading at Rs. 178.60 apiece, up by a per cent from previous close.