PNC Infratech rallied 4.08% to Rs 445.10 after the company announced that it has been declared as the lowest (L1) bidder for an EPC project of Rs 2,090.59 crore from City & industrial Development Corporation of Maharashtra (CIDCO).
The EPC project is on an item rate percentage basis, which involves the integrated infrastructure development of roads that are 20 meters wide and above, as well as the construction of various major and minor structures (such as flyovers and minor bridges), VUPs, PUPs, and related electrical works, including street lighting, under the NAINA project.The total project cost stood at Rs 2,090.59 crore, with an expected completion time of 1,460 days.
PNC Infratech (PNCIL) 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 company reported a consolidated net profit of Rs 421.09 crore in Q1 FY25, steeply higher than Rs 156.59 crore posted in Q1 FY24. Revenue from operations declined 6.3% year on year to Rs 1,744.42 in Q1 FY25.
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