+
PNC Infratech receives bonus for early completion of road projects
ROADS & HIGHWAYS

PNC Infratech receives bonus for early completion of road projects

PNC Infratech increased 11.46% to Rs 271.85 after the Engineering, Procurement, and Construction (EPC) company announced the receipt of Rs 37.02 crore towards a bonus for the early completion of one of its EPC projects from Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) of Government of India (GoI).

The project involved the Purvanchal Expressway development in Uttar Pradesh.

On 30 November 2021, the project was completed, which is 97 days ahead of the scheduled completion date. Accordingly, the bonus of Rs 37 crore, figured at 0.04% of the contract cost of Rs 954 crore, for each day of early completion has been received by the company.

PNC Infratech is engaged in infrastructure development via the construction of highways, including build, operate and transfer projects (BOT), bridges, airport runways, flyovers, and power transmission projects among others.

The company's consolidated net profit dropped 52.89% to Rs 82.98 crore despite an 8.84% increase in sales to Rs 1721.82 crore in Q3 FY22 over Q3 FY21.

Image Source

Also read: PNC Infratech sole DBFOT bidder for Haridwar personal rapid transit

PNC Infratech increased 11.46% to Rs 271.85 after the Engineering, Procurement, and Construction (EPC) company announced the receipt of Rs 37.02 crore towards a bonus for the early completion of one of its EPC projects from Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) of Government of India (GoI). The project involved the Purvanchal Expressway development in Uttar Pradesh. On 30 November 2021, the project was completed, which is 97 days ahead of the scheduled completion date. Accordingly, the bonus of Rs 37 crore, figured at 0.04% of the contract cost of Rs 954 crore, for each day of early completion has been received by the company. PNC Infratech is engaged in infrastructure development via the construction of highways, including build, operate and transfer projects (BOT), bridges, airport runways, flyovers, and power transmission projects among others. The company's consolidated net profit dropped 52.89% to Rs 82.98 crore despite an 8.84% increase in sales to Rs 1721.82 crore in Q3 FY22 over Q3 FY21. Image Source Also read: PNC Infratech sole DBFOT bidder for Haridwar personal rapid transit

Related Stories

Gold Stories

Next Story
Real Estate

Peninsula Land launches 19 luxury villas in Pune

Pune’s residential landscape is witnessing a shift as premium homebuyers increasingly seek larger spaces, privacy and independent living options beyond high-rise apartments. Addressing this demand, Peninsula Land Limited, part of the Ashok Piramal Group, has launched AshokVillas, an exclusive collection of 19 premium furnished villas in Gahunje, Pune.The development combines the independence of a standalone home with the convenience and security of a managed residential community. Designed around low-density horizontal living, AshokVillas offers residents private spaces while providing acces..

Next Story
Infrastructure Urban

MyBranch Expands South India Network with 16 Workspace Centres

MyBranch has expanded its South India presence with a 50,000 sq ft flexible workspace network comprising 16 centres across 14 cities in Andhra Pradesh, Karnataka, Tamil Nadu and Telangana.The expansion reflects growing demand for flexible office infrastructure as businesses establish regional teams, satellite offices and operations beyond traditional metropolitan markets. MyBranch’s network spans Bengaluru, Coimbatore, Guntur, Hanamkonda, Hubballi, Hyderabad, Madurai, Mangaluru, Rajahmundry, Salem, Tirupati, Vellore, Vijayawada and Visakhapatnam, with a large office space in Chennai also und..

Next Story
Building Material

Walplast Launches Moisture-Resistant Gypsum Plaster Solutions

Walplast Products Pvt. Ltd. has expanded its HomeSure GypEx portfolio with the launch of GypEx MoistShield and GypEx Gold, two gypsum plaster solutions designed to address moisture-prone applications and improve plastering efficiency.The new products have been developed in response to the growing demand for faster construction processes, improved material performance and consistent surface quality. The solutions aim to simplify interior plastering while addressing specific application requirements across construction environments.“Through HomeSure GypEx MoistShield and GypEx Gold, we are exp..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code