PNC Infratech JV bags LoA for EPC projects worth Rs 2,475 crore in Uttar Pradesh

On Monday, PNC Infratech Limited announced that its joint venture with SPML Infra Limited was the recipient of a letter of award for six new EPC projects in the state of Uttar Pradesh, India.   

The project received from the State Water Supply & Sanitation Mission, Namami Gange & Rural Water Supply Department include the survey, design, preparation of DPR, construction, commissioning and O&M for 10 years of rural water supply for a total of 2,475 villages. The project is to be constructed and put-on trial in 21 months upon signing of the agreement and operated for 10 years, post-commissioning.  

The company stated in its press release to BSE that the aggregate value of the above six projects was approximately Rs 2,475 crore while the specific value would be known at the time of the agreement, after preparation and approval of DPR for the projects.  

Including the above-mentioned projects, the JV also secured a total of eight mandates in the rural drinking water supply so far for an aggregate estimated value of over Rs 3,717.0 crore. Meanwhile, the company’s share in the JV is 95 per cent.   

Despite the positive news, the stock of PNC Infratech closed at Rs 186.90 per share, down by 0.29 per cent or 0.55 per share. Its 52-week high is recorded at Rs 214.75 while the 52-week low is Rs 80.85 on BSE.