PNC Infratech Lands ₹6,670 Crore Contracts for Key Road Projects in Maharashtra

16 Oct 2024 , 12:44 PM

PNC Infratech Ltd received Letters of Acceptance from the Maharashtra State Road Development Corporation (MSRDC) for two significant Engineering, Procurement, and Construction (EPC) road projects on October 15, 2024.

The first project involves constructing the Pune Ring Road (Package PRR E2), an access-controlled route from Indori to Chimbali in Pune District, valued at ₹2,268 Crore (excluding GST). The construction timeline is 30 months, and PNC Infra negotiated the bid from an initial ₹2,486 Crore.

The second project focuses on building a 28.895 km expressway connector to the Hindu Hrudaysamrat Balasaheb Thackeray Maharashtra Samruddhi Mahamarg from Kumbhari to Katneshwar in Parbhani District. This contract is worth ₹2,362 Crore (excluding GST) and also has a 30-month construction period, negotiated down from ₹2,508 Crore.

At the time of writing on October 16, 2024 at 12:38 pm, shares of PNC Infratech Ltd is trading at ₹465.45 which is a 4.41% gain than the previous close. PNC Infratech Ltd has gained 27% in the last one year, and 33% since the beginning of the year.

PNC Infratech, in a joint venture with Aakshya Infra Projects Private, also secured a contract from the City & Industrial Development Corporation of Maharashtra Ltd (CIDCO) under the Navi Mumbai Airport Influence Notified Area (NAINA) initiative.

The project, valued at ₹2,039.61 Crore, involves constructing 20-meter-wide roads, flyovers, underpasses, and street lighting in the TPS-8, TPS-9, and TPS-12 areas. These contracts highlight PNC Infratech’s strategic growth in Maharashtra’s infrastructure sector.