PNC Infratech Limited has announced the receipt of a Letter of Acceptance from UP State Bridge Corporation Ltd. for a significant infrastructure project. The contract involves the construction of a 4-lane major bridge over the Ganga River in Kanpur, Uttar Pradesh, along with approach roads and protection works. The project is to be executed on an Engineering, Procurement, and Construction (EPC) mode.
The initial quoted price for the project was ₹571.81 crore. However, following negotiations, the price was reduced to ₹559.53 crore, excluding GST. This revised bid was accepted by the UP State Bridge Corporation, with the joint venture comprising PNC Infratech and SPS Constructions India Pvt Ltd being declared the lowest bidder.
The project is expected to be completed within a 36-month period. The joint venture, with a participation ratio of 50:50 between PNC Infratech and SPS Constructions, was declared the first lowest bidder upon the opening of price bids on 13th May 2026.
The contract is a domestic one, awarded by a domestic entity, and there is no involvement of related party transactions. The promoter group of PNC Infratech does not have any interest in the awarding entity.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).