India’s civil construction sector is witnessing robust growth, expected to reach ₹25.31 trillion by 2025 at 11.2% annual growth and ₹39.10 trillion by 2029 at 8.8% CAGR. Valued at $1.04 trillion in 2024, it’s set to touch $1.21 trillion in 2025, driven by infrastructure projects, government initiatives, urbanization, and sustainability efforts.
With a market capitalization of Rs 7,719.26 crore, the shares of PNC Infratech Ltd were trading at Rs 300.90 per share, decreased around 1.63 percent as compared to the previous closing of Rs 305.90 apiece.
Brokerage Recommendations
Geojit BNP Paribas, one of the well-known brokerages in India, gave a ‘Buy’ rating on the infra stock with a target price of Rs 386 apiece, indicating a potential upside of 28 percent from Monday’s price of Rs 300.90 per share.
PNC has monetized 10 HAM projects for Rs 1,828 crore, realizing 1.33x its investment. This strategic disinvestment and focus on diversifying into other infrastructure segments are expected to boost growth. With a strong balance sheet and ₹90,000 crore opportunities in the road and non-road sectors.
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Financial & operational highlights
Looking forward to the company’s financial performance, revenue decreased by 35 percent from Rs 2,600 crore in Q4FY24 to Rs 1,704 crore in Q4FY25. Further, during the same time frame, net profit decreased by 81 percent from Rs 396 crore to Rs 75 crore.
For FY26, the company anticipates 20% revenue growth, supported by arbitration awards, with EBITDA margins at ~13%. It aims for Rs 15,000 crore in order inflow and expects Rs 900–1,000 crore execution from Jal Jeevan Mission. Planned capex is minimal at Rs 40 crore, alongside Rs 400 crore equity infusion for HAM projects, with the balance in FY27–28.
PNC Infratech reports a robust order book of Rs 17,700 crore as of March 31, 2025, over 3.2 times FY25 revenue. Road and infrastructure projects dominate, with the top 6 road projects contributing ₹8,509 crore. Road, expressway, rail, and canal EPCs form 83% of the order book.
PNC Infratech boasts a diverse and prestigious clientele, including central and state government bodies like NHAI, AAI, UPPCL, MES, UPEIDA, MSRDC, and CIDCO. Its strong client base across infrastructure, transport, urban development, and water sectors highlights its credibility, technical capabilities, and strategic alignment with major public infrastructure initiatives across India.
PNC Infratech Limited is an Indian infrastructure building, development, and management firm. The company’s primary focus is on infrastructure projects such as roads, bridges, flyovers, electricity transmission lines, airport runways, and other infrastructure operations.
Written by Abhishek Singh
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