The shares of one of the front-ending infrastructure development companies gained up to 3 percent after the company received a Letter of Award from M.P. Road Development Corporation Ltd. (MPRDC) worth Rs 1,174 crore.
With a market capitalization of Rs 10,566.85 crore, the shares of PNC Infratech Ltd were trading at Rs 411.65 per share, increasing around 1.33 percent as compared to the previous closing price of Rs 406.25 apiece.
According to the company filing, PNC Infratech Ltd received a Letter of Award from M.P. Road Development Corporation Ltd. (MPRDC) for the construction of the Western Bhopal Bypass worth Rs 1,174 crore. The time period for construction of the bypass is 24 months.
Looking at the financials, PNC Infratech Ltd’s revenue climbed by 6 percent, from Rs 1,795 crores in Q2FY23 to Rs 1,911 crores in Q2FY24. During the same year, Net Profit increased by 12 percent, from Rs 132 crore to Rs 148 crore.
PNC Infratech Ltd. has a total order book of Rs 20,500 Cr. as of March 31, 2023, including new contracts signed in FY 2022-2023. The company’s pending orders are split between water and canal projects (33%), and roads and highways (67%), indicating a need for diversification efforts.
The company is now conducting 20 EPC projects in various geographies, including roads, expressways, irrigation, and rural drinking water. PNC’s workforce of over 10,000 workers is made up of competent and experienced experts, as well as management professionals.
PNC increased its reach into new infrastructure areas, such as irrigation and drinking water delivery projects. During FY 2022-23, the Company acquired new mandates worth over Rs 4,855 Cr. This new revenue stream combines with its ongoing position in the road and highway industry.
PNC Infratech Limited is one of the leading infrastructure development, construction, and management firms in the country. The corporation takes on infrastructure projects, such as roads, bridges, flyovers, and power
Written by:- Abhishek Singh
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