PNC Infratech declared L1 bidder for an NHAI Project worth Rs 1530 crore

On Monday, PNC Infratech announced that it has been declared as the L1 (lowest) bidder for a National Highways Authority of India (NHAI) Project for the 60.22 km long four-laning of Jagdishpur-Faizabad section of the NH 330-A in the state of Uttar Pradesh. The bidding for the project which was contested by three firms on February 10, 2020, with PNC's bid being the lowest of Rs 1530 crore.

PNC stated through a press release that the project is the eight hybrid annuity highway project secured by the company so far and is to be constructed in a period of 24 months and operated for another 15 years post-construction. The project comes under the Bharatmala Pariyojna, a centrally-sponsored and funded road and highways project of the GOI.

PNC Infratech is an infrastructure construction, development and management company, primarily engaged in the areas of infrastructure projects, including highways, bridges, flyovers, power transmission lines, airport runways and other infrastructure activities.

On Monday towards the market close, the stock was trading at Rs 195.70, down by 2 per cent or Rs 4 per share. The 52-week high is recorded at Rs 219.40 and the 52-week low is Rs 126 on BSE.