Infrastructure company PNC Infratech Ltd announced on Wednesday (May 13) that its joint venture with SPS Constructions India Private Ltd has emerged as the L1 (first lowest) bidder for a ₹571.81 crore engineering, procurement and construction (EPC) project awarded by UP State Bridge Corporation Ltd. According to the company's exchange filing, the project involves constructing a four-lane major bridge over the Ganga River with footpath connectivity from Bhairoghat Dhobighat Jalkal Campus to Trans Ganga City and Kanpur City, including approach roads and protection works in Kanpur district. The bid was declared the first lowest bidder upon opening of financial bids on May 13, 2026, with the project to be executed within a 36-month completion period.
The joint venture comprises both partners holding a 50:50 participation ratio, with PNC Infratech and SPS Constructions India Private Limited each contributing equally to the project. As reported by the company's exchange filing, the contract has been awarded by a domestic entity and is classified as a domestic project. PNC Infratech has clarified that neither its promoters nor promoter group entities have any interest in the awarding authority, and the contract does not fall under related-party transactions, ensuring complete independence in project execution.
The project has been assigned a completion period of 36 months, providing the joint venture with adequate time to complete the infrastructure development. According to the company's exchange filing, this represents a significant undertaking in Uttar Pradesh's infrastructure development, involving major bridge construction and associated road works in the Kanpur region on EPC mode.
This latest award follows PNC Infratech's success in securing another major EPC project this month, where it emerged as the L1 bidder for an ₹194.40 crore project awarded by the Lucknow Development Authority. As reported by CNBC TV18, that 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, Uttar Pradesh, with a completion timeline of 24 months.
Shares of PNC Infratech Ltd ended at ₹221.80, gaining ₹3.30 or 1.51% on the BSE following the announcement of the bridge project award. However, the company reported mixed financial results for Q3 FY26, with consolidated net profit declining 5.8% year-on-year to ₹76.7 crore compared with ₹81.4 crore in the corresponding quarter previous year. Revenue from operations also declined 18.3% YoY to ₹1,200 crore during the quarter, as reported by Chola Securities. Despite the recent project wins, the company's financial performance reflects the challenging market conditions in the infrastructure sector.
