PNC Infra jumps 11% as arm completes Rs 738-cr project ahead of deadline

PNC Infratech zoomed 11.3 per cent in the morning deals on Wednesday and logged an intraday high at Rs 346 per share. The buying in the stock came after the company's subsidiary Hathras Highways completed an order worth Rs 738 crore two months prior to its date.

 

Around 10:08 AM, PNC Infratech share price was up 10.51 per cent at Rs 343.4 per share on BSE. In comparison, BSE Sensex was flat at 81,508.02. The market capitalisation of the company stood at Rs 8,809.55 crore. The 52-week high of the stock was at Rs 574.5 per share and 52-week low of the stock stood at Rs 282.2 per share.

 

"PNC Infratech is pleased to inform you that a project namely "Four Laning of NII 5308 from Gaju Village (Design km 32.982, Mathura - Aligarh District Boundary) to Devinagar Bypass (End) (Existing km. 208.000 of SH 33(NH-530B/ Design km. 66.000) (Design Length:33.018 km) in the State of Uttar Pradesh on HAM mode (Package-IC)  has been completed," the filing read. 

 

 The project was due on December 31, 2024, but was completed by October 31, 2024. 

 

The company's subsidiary achieved 'provisional completion' (PCOD) 2 months ahead of the scheduled completion and has become eligible for early completion bonus to an extent of Rs 1.428 crore by the Authority (NHAI) along with the first annuity.

 

PNC Infratech is an infrastructure development and construction company in India, established in 1999 and headquartered in Agra, Uttar Pradesh. The company specialises in executing large-scale projects across highways, bridges, airports, power transmission, water supply, and urban infrastructure. Known for its strong execution capabilities, PNC Infratech has delivered several landmark projects, including sections of the Yamuna Expressway, Purvanchal Expressway, and airport runway expansions at Varanasi and Allahabad. 

 

The company undertakes Build-Operate-Transfer (BOT) and Hybrid Annuity Model (HAM) projects, ensuring a diversified portfolio that spans road construction, urban development, and water management under initiatives like the Jal Jeevan Mission. With a robust order book driven by contracts from agencies like NHAI and state governments, PNC Infratech is a key contributor to India’s infrastructure growth. 

 

Despite challenges like regulatory delays and intense competition, it remains well-positioned to benefit from government initiatives such as Bharatmala Pariyojana and Smart Cities Mission, making it a critical player in driving the nation’s urbanisation and connectivity goals.

 

In the past one year, PNC Infratech shares have gained 7.6 per cent against Sensex's rise of 16.5 per cent.