PNC Infratech jumped 4.38% to Rs 465.60 after the company received letters of acceptance from the Maharashtra State Road Development Corporation (MSRDC) for road projects on EPC mode aggregating to Rs 4,630 crore.
The first project involves construction of an access-controlled Pune Ring Road in Pune District Package PRR E2 from Indori to Chimbali, Mawal & Khed in Maharashtra on EPC mode. The accepted contract amount is Rs 2,268 crore and it is to be executed within 30 months.
The subsequent project entails construction of an access-controlled expressway connector to Hindu Hrudaysamrat Balasaheb Thackeray Maharashtra Samruddhi Mahamarg from Jalna to Nanded in Maharashtra on EPC mode for Package JNE-04 from Kumbhari to Katneshwar District Parbhani. The accepted contract amount is Rs 2,362 crore and it is to be executed within 30 months.
PNC Infratech is engaged in India's 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 provides end-to-end infrastructure implementation solutions, including EPC services on a fixed-sum turnkey basis.
The companys consolidated net profit zoomed to Rs 575.17 crore in Q1 FY25 as against Rs 180.62 crore reported in Q1 FY24. Net sales was at Rs 2,167.51 crore in the June quarter, up 3.6% from Rs 2,091.70 crore posted in Q1 FY24.
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