PNC Infra receives Rs82.68 crore early completion bonus for Purvanchal Expressway Package V; Stock soars ~3%

17 Mar 2022 , 11:38 AM

PNC Infratech Limited announces receipt of over Rs82.68 crore towards bonus for early completion of one of its EPC projects. The project is “Development of Purvanchal Expressway (Package V) from Sansarpur (Dist. Sultanpur) to Gobindpur (Dist. Azamgarh) Km. 164+300 to Km. 218+300, in the state of Uttar Pradesh” from Uttar Pradesh Expressways Industrial Development Authority (UPEIDA), Authority for the project, on March 16, 2022.

The project has been completed on October 26, 2021, one hundred thirty-two (132) days ahead of the Scheduled Completion Date. Accordingly, bonus @ 0.04% of the contract price (Rs1566.00 crore), for each day of early completion, received by the Company in terms of the contract agreement.

At around 11.40 am, PNC Infratech Ltd was rading at Rs252.05 per piece up by Rs6.95 or 2.84% from its previous closing of Rs245.10 per piece on the BSE.