PNC Infratech arm declares appointed date for highway project

PNC Infratech said that its subsidiary Akkalkot Highways has received appointed date as 28 December 2022 for Hybrid Annuity Mode (HAM) project of National Highways Authority of India (NHAI).

The project involves construction of 6 Lane with access controlled Greenfield Highway from km. 26.000 to km. 97.000, MH/KN border (Badadal) to Maradgi S Andola (Package-Il of Akkalkot to KN/TS border section) on HAM under Bharatmala Pariyojna.

Construction period for the project is 912 days from appointed date and concession period including construction period is 17.5 years.

PNC Infratech is engaged in India's infrastructure development through the construction of highways including BOT (built, operate and transfer projects), HAM (Hybrid Annuity Model), airport runways, bridges, flyovers and power transmission projects, among others.

The company's consolidated net profit marginally declined to Rs 132.12 crore in Q2 FY23 as compared to Rs 132.47 crore in Q2 FY22. Net sales marginally declined to Rs 1795.07 crore in Q2 FY23 as against Rs 1797.69 crore in Q2 FY23.

The scrip was down 1.33% to Rs 303.35 on the BSE.

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