PNC Infratech emerges L1 bidder for ₹3,483-crore NHAI highway projects in Uttar Pradesh

PNC Infratech Ltd on Tuesday (April 21) said it has emerged as the lowest (L1) bidder for two HAM-based Highway projects floated by the Highways Authority of India (NHAI), with a combined bid project cost of ₹3,483 crore, excluding GST.

The financial bids for the two projects were opened on April 21, 2026. Both projects are located in Uttar Pradesh under the NH-927 section and will be executed on hybrid annuity mode (HAM) under the NH (O) scheme.

The first project involves the construction of a 4-lane highway from Barabanki to Mustafabad, with a quoted bid project cost of ₹1,728 crore. The second project covers the construction of a 4-lane highway from Mustafabad to Biswariya, with a quoted bid project cost of ₹1,755 crore.

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Each project has an execution timeline of 24 months. The company stated that neither the promoter nor the promoter group nor group companies have any interest in the awarding authority, and the contracts do not fall under related party transactions.

Third quarter results

PNC Infrastructure Ltd reported a 5.8% year-on-year decline in net profit for the third quarter at ₹76.7 crore, down from ₹81.4 crore in the same period last year. The company's revenue for the quarter fell 18.3% to ₹1,200 crore from ₹1,470 crore, while earnings before interest, taxes, depreciation, and amortisation (EBITDA) dropped 37% to ₹238.7 crore from ₹379 crore.

The company’s operating margin contracted to 19.9% from 25.8% year-on-year. The Government of India notified the labour code on November 21, 2025. PNC Infra recognised ₹70.54 lakh as an exceptional item for past gratuity and leave costs in its Q3 and 9-month results.

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Shares of PNC Infratech Ltd ended at ₹208.50, up by ₹6.35, or 3.14%, on the BSE today, April 21.