PNC Infratech Ltd announced on Friday that it has received a letter of acceptance (LoA) worth Rs 4.96 billion from the Bihar State Road Development Corporation (BSRDC).

The project entails constructing a high-level bridge and approach road along the Hathouri–Atrar–Bavangama–Aurai Road, covering 21.3 km. The contract, awarded under the EPC model, is slated for completion within 1,095 days, or three years.

The company confirmed that neither its promoters nor group entities hold any interest in the awarding authority. The LoA follows PNC’s earlier announcement on 5 September, when the project was included in its bid pipeline. Ahead of the announcement, PNC shares closed at Rs 306 on the NSE, down 1.43 per cent.

Separately, PNC Infratech has received approval from the Competition Commission of India (CCI) for its proposed acquisition of debt-laden Jaiprakash Associates Ltd (JAL). The plan involves acquiring at least 95 per cent and up to 100 per cent of JAL, either directly or through a special purpose vehicle.

JAL, currently under insolvency proceedings, operates in cement and power sectors. The acquisition represents a diversification move for PNC, expanding beyond roads and highways into allied sectors complementing its EPC capabilities.