Infrastructure Company Emerges as L1 Bidder for Rs 2,090.59 Crore EPC Contract by City & Industrial Development Corporation of Maharashtra
The company’s shares have delivered an impressive return of around 20 per cent to its shareholders in the past 1 year only.
This Small-Cap infrastructure company has been declared the First Lowest (L1) bidder for an EPC project by City & Industrial Development Corporation of Maharashtra Ltd (CIDCO) on an item rate percentage basis. The project, titled "Integrated Infrastructure Development of 20M & above wide roads, construction of various major and minor structures (such as flyovers, minor bridges, VUPS, PUPS, etc.), and allied electrical works (street lighting) in TPS-8, TPS-9, and TPS-12 under the NAINA Project," was awarded on October 9, 2024, for a quoted price of Rs 2,090.59 crore (Rupees Two Thousand Ninety Crore and Fifty-Nine Lakhs). The project is to be completed within 1,460 days, including the monsoon period.
PNC Infratech, originally incorporated as PNC Construction Company Private Limited on August 9, 1999, was converted into a limited company in 2001 and rebranded as PNC Infratech Limited in 2007. As a leading player in infrastructure development, construction, and management, the company undertakes a variety of projects, including highways, bridges, flyovers, power transmission lines and towers, airport runways, and industrial area development.
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Today, the shares of PNC Infratech are closed at around Rs 441 per share on the BSE. The company’s current market capitalization stands at Rs 11,313 crore. Additionally, the shares have delivered a return of around 20 per cent in the past 1 year.
As per the Quarterly Results, in the Q1 FY25, PNC Infratech recorded a revenue of Rs 2168 crore compared to Rs 2092 crore. The operating profit stood at Rs 969 crore. The net profit stood at Rs 575 crore compared to a profit of Rs 181 crore. Looking at the annual performance, the company generated a revenue of Rs 8650 crore in FY24. The operating profit for FY24 was Rs 2005 crore with a net profit of Rs 909 crore compared to a net profit of Rs 658 crore in FY23.
According to the shareholding pattern of the company, the promoters hold a significant 56.07 per cent stake. Public investors own 6.75 per cent of the shares, while Foreign Institutional Investors (FIIs) hold 10.83 per cent and Domestic Institutional Investors (DIIs) own 26.36 per cent.
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Disclaimer: The article is for informational purposes only and not investment advice.