PNC Infratech signs concession agreements for 2 projects worth Rs 1,623 crore

PNC Infratech has signed concession agreements with National Highways Authority of India and the special purpose vehicles incorporated by the company for the two hybrid annuity mode (HAM) projects for a total cost of Rs 1,623 crore.

The first project contains four laning of NH 530B from Mathura Bypass to Gaju Village in the state of Uttar Pradesh (Package-1B) by Yamuna Highways. The length of this construction is 32.98 kilometer and the cost of this project is Rs 885 crore.

The second project pertains to four laning of NH 530B from Gaju Village to Devinagar Bypass in Uttar Pradesh (Package-1C). The length of this construction is 33.02 kilometer and the cost of this project stands at Rs 738 crore.

Both the projects are to be constructed in 24 months, upon declaration of appointed dates 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.

Shares of PNC Infratech were down 0.57% at Rs 251.05 on the BSE.

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