PNC Infratech rose 2.50% to Rs 112.90 after the company said it bagged a new hybrid annuity highway project worth Rs 1,412 crore from National Highways Authority of India (NHAI).
The company has been declared as the lowest bidder for a NHAI project of four-laning of Meerut - Nazibabad section of NH-119 in the state of Uttar Pradesh under Bharatmala Pariyojana on hybrid annuity mode (HAM) for Rs 1,412 crore.
The project is to be constructed in 24 months and operated for 15 years post construction, PNC Infratech said in an exchange filing made after market hours yesterday.
On a consolidated basis, PNC Infra's net jumped 491% to Rs 66.90 crore on a 61.2% surge in the net sales to Rs 1390.41 crore in Q3 December 2019 over Q3 December 2018.
PNC Infratech and its subsidiaries is engaged in infrastructure development through the construction of highways including BOT (built, operate and transfer projects), airport runways, bridges, flyovers and power transmission projects among others.
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