PNC Infratech Bags Rs.2,039.61 Crore Contract From CIDCO

PNC Infratech Ltd. has landed a Rs.2,039.61 crore contract from CIDCO (City and Industrial Development Corporation of Maharashtra Ltd.) for a major infrastructure project under the Navi Mumbai Airport Influence Notified Area (NAINA). This project will focus on building wide roads, flyovers, bridges, underpasses, and even handling street lighting—making sure the region is ready for smooth traffic and better connectivity.

Project & Timeline

The project covers key areas like TPS-8, TPS-9, and TPS-12, where roads of 20 meters or more will be developed. PNC Infratech will be working alongside Aakshya Infra Projects Pvt. Ltd. to deliver this project using the Engineering, Procurement, and Construction (EPC) approach. The entire project is set to be completed within 1,460 days, including monsoons, ensuring that all weather conditions are accounted for in the planning. Initially, PNC Infratech had pitched a price of Rs.2,090.59 crore, but after some negotiation, the final deal was closed at Rs.2,039.61 crore.

Market Performance

This isn’t PNC Infratech’s first big project in 2024. Just a couple of months ago, they secured a Rs.699 crore contract for a four-lane elevated corridor in Madhya Pradesh, and earlier this year, they bagged a Rs.1,174 crore project for the Western Bhopal Bypass. The company has consistently been adding significant projects to its portfolio.

From a market perspective, PNC Infratech’s stock has gained around 30% so far this year, and around 25% in the past year. The stock is trading at Rs.454.30, showing more than 3% rise today. 

Conclusion: With this contract, PNC Infratech continues to build on its track record in infrastructure development. The NAINA project adds to its growing list of major projects and boosts up its order book. The company’s ability to consistently secure large contracts is a testament to its execution and position in the market.

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