PNC Infratech shares surged nearly 6% to ₹258 apiece on Friday, July 17, following the announcement of major infrastructure contracts. According to NSE data, the stock gained around 6% compared to the previous close of ₹244.04, though it later retracted gains to trade 0.22% higher during afternoon sessions. The company announced the order book update during market hours on July 17, with shares hitting an intraday high before settling lower. The stock has shown mixed performance over different time periods, declining 23% over five years and 30% in the last three years, but gaining 15% in the past month.
PNC Infratech has successfully executed concession agreements for two major Hybrid Annuity Mode (HAM) Highway Projects on 16 July 2026. According to the company's NSE filing, the agreements were signed between the National Highways Authority of India and Special Purpose Vehicles incorporated by the company for project implementation. The combined bid project cost for both projects totals ₹3,483 crore, with both projects set to be constructed within 24 months from the date of order declaration and operated within 15 years after construction completion.
The first project involves the construction of a 4-lane highway from Barabanki to Mustafabad with a design chainage of 43+030 km on NH-927 in Uttar Pradesh. As reported in the NSE filing, this project has a bid project cost of ₹1,728 crore and falls under the HAM Mode under NH(O) Scheme (Package-I). The second project encompasses the construction of a 4-lane highway from Mustafabad to Biswariya with a design chainage of 101+515 km on NH-927 in Uttar Pradesh, with a bid project cost of ₹1,755 crore under the same HAM Mode and NH(O) Scheme (Package-II).
According to the NSE filing, PNC Infratech will establish Barabanki Mustafabad Highway Private Limited and Mustafabad Biswariya Highway Private Limited as the two Special Purpose Vehicles for these projects. The combined project value of ₹3,483 crore significantly exceeds the company's revenue from core operations of ₹1,616.98 crore for the quarter ended March 2026. As per the exchange filing, the order book update represents more than 50% of the company's market capitalisation as of the trading session on Friday, July 17. The projects are located on the NH-927 corridor in Uttar Pradesh and will be implemented through the company's Special Purpose Vehicles, demonstrating PNC Infratech's continued focus on highway infrastructure development under the HAM model.
