Synopsis: PNC Infratech shares gained after the company emerged as the lowest bidder for the Rs. 297 crore airport development project in Varanasi.
A construction and infrastructure stock gained ground on September 3 after announcing a major project win. Investors reacted positively as the company secured the lowest bidder position for the Lal Bahadur Shastri International Airport Varanasi project.
PNC Infratech Ltd, with a market capitalization of Rs. 7,927.06 crore, opened at Rs. 312.95 today and touched an intraday high of Rs. 314.60 compared to its previous close of Rs. 303.90. This reflected a rise of 3.52 percent at the day’s high.
What’s the News?
PNC Infratech has been declared the lowest (L1) bidder by Airports Authority of India (AAI) for the “Development of Lal Bahadur Shastri International Airport Varanasi.” The project involves extension of the runway along with re-carpeting and strengthening of the existing runway and allied works.
The company quoted Rs. 297.01 crore, exclusive of GST, and the financial bids were opened on September 2, 2025. The project execution timeline is eighteen months.
Order Book Details
As on June 30, 2025, PNC Infratech maintains a robust order book of over Rs. 17,000 crore. The remaining value of contracts under execution, including projects worth Rs. 4,337 crore where the appointed date is awaited, stands at more than 3.1 times of FY25 revenue.
Road highway, road expressway, railway, and canal EPC projects together constitute 83 percent of the total order book, underscoring the company’s diversified yet infrastructure-heavy portfolio.
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Financial Snapshot
On a sequential basis, revenue fell 16.5 percent to Rs. 1,423 crore in Q1FY26 from Rs. 1,704 crore in Q4FY25. Operating profit rose slightly by 1.4 percent to Rs. 367 crore from Rs. 362 crore. Profit before tax surged 232.5 percent to Rs. 502 crore from Rs. 151 crore, while net profit jumped 474.7 percent to Rs. 431 crore from Rs. 75 crore.
Year-on-year, revenue declined 34.4 percent from Rs. 2,168 crore in Q1FY25 to Rs. 1,423 crore in Q1FY26. Operating profit contracted 62.1 percent from Rs. 969 crore to Rs. 367 crore. Profit before tax fell 34.7 percent from Rs. 768 crore to Rs. 502 crore, and net profit declined 25 percent from Rs. 575 crore to Rs. 431 crore.
About the Company
Founded in 1999 as PNC Construction Company, PNC Infratech Ltd is a leading Indian infrastructure player with expertise spanning investment, development, construction, operations, and management. The company offers integrated services across design, engineering, procurement, construction, and O&M through diverse models, including EPC, DBFOT, toll, annuity, hybrid annuity, and operate-maintain-transfer formats.
Written by – Manan Gangwar
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