Rs 17,800 crore order book: This multibagger civil construction company emerges as the lower bidder (L1) for order worth Rs 1,174 crore from MPRDC!
The shares of the company have a PE of 15x, an ROE of 17.37 per cent and a ROCE of 15 per cent.
PNC Infratech Ltd announced that the company has been declared L1 (First Lowest) bidder in a Madhya Pradesh Road Development Corporation's (MPRDC) highway project namely the 6 constructions of Western Bhopal Bypass as 4-lane with paved shoulders along with service road of Bhopal-Dewas Road (SH-28) with a design length of 40.90 km in the State of Madhya Pradesh on Hybrid annuity mode (ham) for a bid project cost of Rs 1,174 crore.
Earlier, PNC Infratech Ltd received completion certificates for a substantial Rs 2,800.4 crore worth of orders from the National Highways Authority of India (NHAI). These include the construction of an eight-lane expressway in Gujarat for Rs 748.4 crore and the four-laning of a highway section in Uttar Pradesh for Rs 2,052 crore, both completed within two years under different project models.
PNC Infratech Limited is one of the front-ending infrastructure projects, including highways, bridges, flyovers, power transmission lines and towers, airport runways, industrial area development, and other infrastructure activities.
The company has a market cap of over Rs 8,600 crore. As of September 30, 2023, the company has a robust order book of Rs 17,800 crore (including a contract worth Rs 4,412 crore not yet included in the order book).
Today, shares of PNC Infratech plunged 3.77 per cent to Rs 343.30 per share from its previous closing of Rs 349.15 with an intraday high of Rs 355.85 and an intraday low of Rs 330. The stock’s 52-week high is Rs 387.20 and its 52-week low is Rs 261.15.
The shares of the company have a PE of 15x, an ROE of 17.37 per cent and a ROCE of 15 per cent. The stock is up by 36 per cent from its 52-week low of Rs 261.15 per share and generated multibagger returns of over 100 per cent in 3 years. Investors should keep an eye on this Mid-Cap civil construction stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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