Infrastructure company PNC Infratech Ltd has secured a significant contract from the Lucknow Development Authority for a flyover construction project in Uttar Pradesh. According to reports from CNBC TV18 and Business Standard, the company received a Letter of Acceptance (LOA) dated May 27, 2026, which was handed over to the company on June 1, 2026. The project involves constructing a four-lane flyover with two loops and two ramps at the Shaheed Path intersection on the right-hand-side bank of the Gomti River in Lucknow on an Engineering, Procurement and Construction (EPC) basis.
The order value stands at ₹194.40 crore, exclusive of GST, as reported by CNBC TV18 and Business Standard. The project is scheduled for completion within 24 months from the award date. PNC Infratech has confirmed that neither the promoter, promoter group nor group companies have any interest in the entity awarding the contract, and the order does not fall under related party transactions. This latest award adds to the company's ₹19,000 crore+ unexecuted order book, strengthening its revenue visibility for the current fiscal year. The company's order book has expanded significantly, with the latest addition contributing meaningfully to its growing portfolio.
This latest award represents a fresh urban infrastructure mandate compared to PNC Infratech's previous focus on National Highways Authority of India (NHAI) projects. The EPC model ensures lower capital intensive operations compared to Build-Operate-Transfer (BOT) or Hybrid Annuity Models (HAM), reducing the company's financial risk while maintaining its industry-leading 13-14% EBITDA margins. By securing an EPC contract from a state authority like LDA, the company balances its portfolio between long-cycle highway projects and faster-turnaround urban infrastructure assignments, demonstrating its competitive edge in Uttar Pradesh where it has historically delivered superior margins.
Shares of PNC Infratech Ltd ended at ₹206.80, up by ₹2.30, or 1.12%, on the BSE, as reported by CNBC TV18. The positive market response reflects investor confidence in the company's expanding project portfolio and strong order book position in the infrastructure sector. The steady flow of urban infrastructure orders from state authorities signals continued capital expenditure despite macro fluctuations, with investors watching for the company's ability to maintain its industry-leading margins on state-level EPC projects.
