PNC Infratech surges 5% on securing Rs 6.99 billion order

01 Mar 2024 CW Team

According to the company's filing, the LoA is related to the construction of a four-lane elevated corridor/flyover from Maharani Laxmibai Pratima to A.B. Road (N.ll. 46) near Girwai Police Chouki on the Swarn Rekha River in Gwalior City (2nd phase) in the state of Madhya Pradesh. The project is set to be executed on an engineering, procurement, and construction (EPC) basis, with a total order value of Rs 6.99 billion.

In January, PNC Infratech was also granted the contract for constructing the Western Bhopal Bypass, entailing the development of a 4-lane road with paved shoulders along with service roads. The total cost for this project amounts to Rs 11.74 billion.

The company has established itself as a leading player in the EPC sector within the road industry over the years. It has diversified its revenue streams to include other segments like water supply and irrigation.

The company is well-positioned to capitalize on the government?s ambitious plans for highway and expressway development. The National Highways Authority of India (NHAI) is prioritizing greenfield expressways, presenting significant potential in both EPC and HAM modes.

Government initiatives such as Bharatmala Pariyojana, Sagarmala, the Atal Mission for Rejuvenation and Urban Transformation, the Jal Jeevan Mission, and the Prime Minister?s Gati Shakti National Master Plan are expected to enhance the infrastructure sector, according to the domestic brokerage firm Axis Securities.

The company's shares have delivered positive returns over the past three years, with a 30% increase so far this year.

In Q3 FY24, the company reported a 32.14% YoY increase in its consolidated net profit, reaching Rs 1.85 billion compared to Rs 1.40 billion in the year-ago quarter.

Shares of PNC Infratech, an infrastructure company, experienced a 5% surge, this increase was announced in an exchange filing where the company stated that it had received a Letter of Acceptance from the Madhya Pradesh Public Works Department. According to the company's filing, the LoA is related to the construction of a four-lane elevated corridor/flyover from Maharani Laxmibai Pratima to A.B. Road (N.ll. 46) near Girwai Police Chouki on the Swarn Rekha River in Gwalior City (2nd phase) in the state of Madhya Pradesh. The project is set to be executed on an engineering, procurement, and construction (EPC) basis, with a total order value of Rs 6.99 billion. In January, PNC Infratech was also granted the contract for constructing the Western Bhopal Bypass, entailing the development of a 4-lane road with paved shoulders along with service roads. The total cost for this project amounts to Rs 11.74 billion. The company has established itself as a leading player in the EPC sector within the road industry over the years. It has diversified its revenue streams to include other segments like water supply and irrigation. The company is well-positioned to capitalize on the government?s ambitious plans for highway and expressway development. The National Highways Authority of India (NHAI) is prioritizing greenfield expressways, presenting significant potential in both EPC and HAM modes. Government initiatives such as Bharatmala Pariyojana, Sagarmala, the Atal Mission for Rejuvenation and Urban Transformation, the Jal Jeevan Mission, and the Prime Minister?s Gati Shakti National Master Plan are expected to enhance the infrastructure sector, according to the domestic brokerage firm Axis Securities. The company's shares have delivered positive returns over the past three years, with a 30% increase so far this year. In Q3 FY24, the company reported a 32.14% YoY increase in its consolidated net profit, reaching Rs 1.85 billion compared to Rs 1.40 billion in the year-ago quarter.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Infrastructure Energy

06 Apr 2026

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

Real Estate

06 Apr 2026

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..