PNC Infratech gained 0.81% to Rs 241.55 after the EPC company was declared the L1 (lowest bidder) by National Highways Authority of India for project 'improvement and up-gradation'.
The scope of the project involves improvement and up-gradation of 54.429 km long to four-lane road with paved shoulders Hardoi district of Uttar Pradesh on Hybrid Annuity Mode.The bid project cost is Rs 864 crore and the Project is to be constructed in 30 months and operated for 15 years post construction.
PNC Infratech 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.
The company's consolidated net profit declined 52.89% to Rs 82.98 crore despite an 8.84% rise in sales to Rs 1721.82 crore in Q3 FY22 over Q3 FY21.
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