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PNC Infratech Secures ₹4,630 Crore Projects from MSRDC

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Synopsis:

PNC Infratech won two major EPC contracts worth ₹4,630 crore from MSRDC. The projects include Pune Ring Road construction and a key expressway connector.

PNC Infratech news today

PNC Infratech Ltd has been awarded two significant contracts worth a combined ₹4,630 crore by the Maharashtra State Road Development Corporation (MSRDC). The infrastructure company announced receiving the Letters of Acceptance (LoA) for these projects on October 15, 2024. The contracts focus on enhancing road connectivity in Maharashtra through Engineering, Procurement, and Construction (EPC) services.

PNC INFRATECH LTD.

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328.75-6.04 (-1.80 %)

Updated - 13 December 2024
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Pune Ring Road construction project

The first project involves constructing the Pune Ring Road (Package PRR E2), an access-controlled road stretching from Indori to Chimbali in Pune District. PNC Infratech secured this contract for a final accepted value of ₹2,268 crore, exclusive of GST. The company successfully negotiated the bid down from the initially quoted ₹2,486 crore. The project, which aims to improve regional connectivity and traffic flow, has a construction period of 30 months.

Expressway connector for Samruddhi Mahamarg

The second project involves building an access-controlled expressway connector to the Hindu Hrudaysamrat Balasaheb Thackeray Maharashtra Samruddhi Mahamarg. This connector will cover 28.895 km between Kumbhari and Katneshwar in the Parbhani District. The contract was awarded at ₹2,362 crore, also exclusive of GST, after negotiations reduced the initial quoted price of ₹2,508 crore. The project’s construction timeline is set at 30 months, and it aims to facilitate smoother access to the Samruddhi Mahamarg.

PNC Infratech's expanding project portfolio

In addition to these new projects, PNC Infratech has recently secured a contract in partnership with Aakshya Infra Projects Private Ltd. The joint venture was awarded a ₹2,039.61 crore contract from the City & Industrial Development Corporation of Maharashtra Ltd (CIDCO). The project is part of the Navi Mumbai Airport Influence Notified Area (NAINA) initiative. This project focuses on developing integrated infrastructure, including road construction and associated structures such as flyovers and underpasses.

Market reaction and PNC Infratech share price

On the announcement date, shares of PNC Infratech closed at ₹446.05 on the Bombay Stock Exchange (BSE), down by ₹5.05, or 1.12%. Despite the slight decline, the company's strong order book with new projects worth over ₹4,630 crore signals potential long-term growth. The market will closely watch the progress of these projects and their impact on the PNC Infratech share price.

PNC Infratech's recent contract wins from MSRDC for key infrastructure projects underscore its expanding footprint in the construction sector. The successful bids for the Pune Ring Road and expressway connector highlight the company’s strategic growth in Maharashtra, strengthening its project pipeline and future revenue prospects.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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