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The completion period for the project is 24 months. The company clarified that neither the promoter nor the promoter group or group companies have any interest in the entity awarding the contract. It further stated that the transaction does not fall under related party transactions.
PNC Infratech is one of the leading infrastructure development, construction, and management companies in India. The company undertakes infrastructure projects, including highways, bridges, flyovers, airport runways, power transmission lines and towers, and industrial area development.
PNC Infratech reported a 5.8% year-on-year decline in net profit to Rs 76.7 crore in the third quarter, compared with Rs 81.4 crore in the same period last year. Revenue from operations declined 18.3% to Rs 1,200 crore from Rs 1,470 crore.
Shares of PNC Infratech rose 1.91% to close at Rs 223.85 on the BSE.
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