PNC Infratech wins Rs 1,602 crore order

Infrastructure developer, PNC Infratech today informed the bourses that it has secured an order worth Rs 1,602 crore from National Highways Authority of India (NHAI) for 70 km long four laning of Unnao-Lalganj section of NH 232 A in the state of Uttar Pradesh under NHDP IVB on Hybrid Annuity Model (HAM).

The price bids for the project were opened on February 13, 2020 and PNC’s bid was the lowest (L1). Further, the construction of this project is to be completed within 30 months.

As on December 2019 ended quarter, the company holds a strong order book of Rs 8,600 crore which translates into book-to-bill of around 1.8x on TTM revenue giving healthy revenue visibility in the next one to two years.  

In Q3FY20, the company’s revenue grew by a whopping 68 per cent YoY to Rs 1,218 crore. EBITDA too replicated revenue growth and grew by 68 per cent YoY to Rs 171.2 crore, further, the profit after tax jumped by almost 63 per cent YoY to Rs 77.14 crore.

The stock of PNC Infratech was under pressure, owing to the overall weak market sentiments and settled for the day at Rs 171.6 apiece, down by 2.8 per cent from its previous close.