Infrastructure company PNC Infratech Ltd has been declared the L1 (first lowest) bidder for a ₹194.40 crore EPC project from the Lucknow Development Authority. According to reports from CNBC TV18, the project involves the construction of 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, Uttar Pradesh. The contract has been awarded on an Engineering, Procurement and Construction (EPC) basis by a domestic entity, with completion scheduled within 24 months. The project is valued at ₹194.40 crore and involves no international entity participation, ensuring it remains a purely domestic contract.
This latest win follows PNC Infratech's success in securing two HAM-based National Highway projects last month, as reported by CNBC TV18. The company emerged as the lowest bidder for these projects with a combined bid project cost of ₹3,483 crore, excluding GST. The first project involves the construction of a 4-lane highway from Barabanki to Mustafabad with a quoted bid project cost of ₹1,728 crore, while the second project covers the construction of a 4-lane highway from Mustafabad to Biswariya with a quoted bid project cost of ₹1,755 crore. Both projects are located in Uttar Pradesh under the NH-927 section and will be executed on a hybrid annuity mode (HAM) under the NH (O) scheme.
According to CNBC TV18, shares of PNC Infratech Ltd ended at ₹223.60, up by ₹3.95, or 1.80% on the BSE following the project announcement. The company has maintained strict compliance with regulatory requirements, stating that neither the promoter nor the promoter group nor the group companies have any interest in the awarding authority, and the contracts do not fall under related party transactions. As per the latest regulatory filing submitted to the National Stock Exchange of India (NSE), the company has adhered to its code of conduct regarding the prohibition of insider trading, in line with the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015. Consequently, the trading window for dealing in the company's securities by designated employees and connected persons remains closed.
