PNC Infratech Secures ₹240 Crore Flyover Contract from Rajasthan PWD

9 Jun 2025 , 11:17 AM

PNC Infratech has been awarded a new flyover construction contract in Bharatpur, Rajasthan, by the state’s Public Works Department (PWD), a development that adds to the company’s expanding presence in city infrastructure.

The contract involves building a flyover connecting Heeradas Chouraha to Kumher Gate Chouraha, a critical stretch in the city that’s often choked by daily traffic congestion. The formal Letter of Acceptance was issued on June 6, 2025, and PNC informed the stock exchanges about the development the following day.

The entire project will be carried out under the EPC (Engineering, Procurement and Construction) model, meaning the company will oversee everything from start to finish including planning, procurement, engineering, and on-ground execution.

The project carries an estimated cost of ₹239.94 crore, and the expected completion window is 24 months from the project’s start date. With this contract in hand, PNC Infratech continues to solidify its footprint in Rajasthan and reaffirms its focus on high-impact infrastructure in fast-growing tier-2 cities.

On the financial front, the company had a rough patch in the March 2025 quarter.

• Net profit dropped sharply to ₹75.50 crore, an 81% fall from ₹395.90 crore reported in the same period last year.
• Revenue also declined, slipping by 34.5% year-on-year to ₹1,704 crore, down from ₹2,600 crore in Q4 FY24.
• Operating performance also took a hit, with EBITDA falling to ₹362 crore, a 51% drop from ₹736 crore posted last year.
• The company’s EBITDA margin narrowed to 21.26%, compared to 28.32% a year ago

The weak quarterly results suggest that the company is facing headwinds perhaps from input cost inflation, labour bottlenecks, or slower-than-planned project ramp-ups. Still, contract wins like the Bharatpur flyover offer visibility for the months ahead. As public infrastructure investment picks up across India’s smaller cities, PNC appears poised to stay in the game.

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