PNC Infratech receives early completion bonus

PNC Infratech has received Rs. 33.73 crore as early completion bonus for finishing the work of highway stretch in Uttar Pradesh ahead of its deadline from National Highways Authority of India (NHAI). PNC Raebareli Highways Pvt Ltd received the amount as bonus for early completion of the two-laning of 166.44 km Raebareli-Jaunpur section of NH-231.

This is the second bonus for the company in the last three months. This indicates that the company has strong execution capability to complete the given project ahead of deadline.

The company stated that a large team of experts, new age machinery and building material purchased in advance helped in the early completion of the project.

PNC Infratech is involved in execution of infrastructure projects including highways, bridges, flyovers, power transmission lines, airport runways, industrial area development and other infrastructure activities.

With this development, the stock of PNC Infratech surges almost 5 per cent in the morning session, but later declined and closed for the day at Rs. 172 per share, up by 0.7 per cent.