PNC Infratech shares surged 5.45 per cent at Rs 470.40 per share on the BSE. The stock price jumped on Wednesday after the company said that it has secured orders worth Rs 4,630 crore.
PNC Infratech on Tuesday said that it has secured Letters of Acceptance (LoA) from the Maharashtra State Road Development Corporation (MSRDC) for two EPC road projects totaling Rs 4,630 crore.
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The first project involves the construction of an access-controlled Pune Ring Road in Pune District, extending from Indori to Chimbali, covering a length of 13.8 km in the Mawal and Khed Talukas of Maharashtra.
The second project focuses on constructing an access-controlled expressway connector to the Hindu Hrudaysamrat Balasaheb Thackeray Maharashtra Samruddhi Mahamarg from Jalna to Nanded in Parbhani District, with a total length of 28.895 km.
The company also announced on Tuesday that it has incorporated a subsidiary by the name of Aaksiiya Joint Venture as a special purpose vehicle on October 14,2024 to execute a new engineering, procurement and construction (EPC) project awarded by City and Industrial Development Corporation of Maharashtra Ltd. (CIDCO).
PNC Infratech financials
PNC Infratech reported a revenue increase of 4.08 per cent year-on-year to Rs 2,197.82 crore in Q1FY25. However, on a quarterly basis, revenue fell by 16.25 per cent. In terms of net profit, the company saw a significant jump of 218.44 per cent year-on-year, reaching Rs 575.17 crore for the same quarter. Quarterly, net profit rose by 45.29 per cent.
PNC Infratech share price history
PNC Infratech stock has outperformed the market year to date as it has risen 32.7 per cent, while gaining 26.8 per cent. In comparison BSE Sensex has risen 13 per cent year to date and 23.5 per cent in a year.
The company has a total market capitalisation of Rs 11,909.83 crore. Its shares are trading at a price to earnings multiple of 10.27 times and at an earning per share of Rs 43.44.
At 10:41 AM, the stock price of the company was up by 3.90 per cent at Rs 463.45 a piece on the BSE. By comparison, the BSE Sensex was down 0.13 per cent at 81,716.69 level.
First Published: Oct 16 2024 | 10:51 AM IST
