PNC Infratech advanced 1.67% to Rs 255.35 after the company announced the signing of a concession agreement with National Highways Authority of India (NHAI) for a HAM Project worth Rs 864 crore.
The agreement was signed between NHAI and Hardoi Highways, a special purpose vehicle incorporated by the company for implementation of the said project.
The project involves improving and upgrading the existing road to four lane with paved shoulders, from end of Hardoi bypass to end of Hardoi district of NH-731 (Pkg-III) in the state of Uttar Pradesh.
The project is to be constructed in 30 months, upon declaration of appointed date 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 jumped 64.4% to Rs 247.19 crore on a 19.4% rise in net sales to Rs 2226.02 crore in Q4 FY22 over Q4 FY21.
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