PNC Infratech gains on signing concession agreement with NHAI for Rs 1,458-cr project

9 Sep 2022 , 09:29 AM

The agreement was signed between NHAI and Sonauli Gorakhpur Highways, a special purpose vehicle incorporated by the company for implementation of the said project. The project involves four laning of Sonauli – Gorakhpur section of NH-29E on hybrid annuity mode in the state of Uttar Pradesh. The length of this construction is 79.54 kilometer and the cost of this project is Rs 1,458 crore. The project is to be constructed in 24 months, upon declaration of appointed date and operated for 15 years, post construction. PNC Infratech is engaged in infrastructure development through the construction of highways including BOT (built, operate and transfer projects), airport runways, bridges, flyovers and power transmission projects among others. The companys consolidated net profit jumped 104.3% to Rs 240.66 crore on a 40.4% rise in net sales to Rs 2,052.88 crore in Q1 FY23 over Q1 FY22. Powered by Capital Market – Live News