PNC Infratech has announced the receipt of Letters of Acceptance from the National Highways Authority of India (NHAI) for two highway projects with a combined bid project cost of ₹3483 crore. The projects are to be executed on a Hybrid Annuity Mode (HAM) basis.
The first project involves the construction of a four-lane highway from Barabanki Design Chainage Km 0+000 to Mustafabad Design Chainage Km 43+030, covering an existing chainage of Km 0.000 to Km 43.700 on the section of NH-927 in Uttar Pradesh. This project has a quoted and accepted bid project cost of ₹1728 crore.
The second project entails the construction of a four-lane highway from Mustafabad Design Chainage Km 43+030 to Biswariya Design Chainage Km 101+515, which covers an existing chainage from Km 43.700 to Km 98.475 on the same section of NH-927 in Uttar Pradesh. The quoted and accepted bid project cost for this project is ₹1755 crore.
Both projects are domestic and are expected to be completed within a 24-month period from the commencement date. The company emerged as the lowest bidder for these projects, which do not involve any related party transactions or interests from the promoter group.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).