PNC Infratech Receives ₹3,483 Crore NHAI HAM Project LOAs; Shares Slip 0.16% 

 Mumbai, May 22: PNC Infratech said it has received Letters of Acceptance from the National Highways Authority of India (NHAI) for two Hybrid Annuity Mode highway projects with a combined bid project cost of ₹3,483 crore, excluding GST. 

The company disclosed in an exchange filing that the projects relate to construction of four-lane stretches on NH-927 in Uttar Pradesh under the NH(O) scheme. 

According to the filing, the first project involves development of a four-lane highway stretch from Barabanki Design Chainage Km 0+000 to Mustafabad Design Chainage Km 43+030. The quoted and accepted bid project cost for this package stands at ₹1,728 crore. 

The second project covers construction of another four-lane section from Mustafabad Design Chainage Km 43+030 to Biswariya Design Chainage Km 101+515. The accepted bid project cost for this package is ₹1,755 crore. 

PNC Infratech stated that the company emerged as the lowest bidder for both HAM projects and subsequently received the formal acceptance letters from NHAI on May 22, 2026. 

Both projects carry an execution timeline of 24 months. 

The contracts have been awarded by a domestic government entity and do not fall under related-party transactions, according to the filing. 

Stock Market Snapshot 

PNC Infratech share price closed at ₹212.80 on the NSE on May 22, 2026, down 0.16% from the previous close of ₹213.15. 

The stock traded in a relatively narrow range during the session despite the sizeable order confirmation from NHAI. 

Investors continued to monitor infrastructure order inflows and execution visibility in the roads and highways segment amid ongoing government-led capex activity. 

Company Background 

PNC Infratech Ltd operates in infrastructure construction with a primary focus on highways, expressways, bridges, airport runways and urban infrastructure projects. 

The company has established a strong presence in EPC and HAM-based road development projects, particularly in North and Central India. 

Over the years, PNC Infratech has emerged as a key participant in India’s highway expansion and transport infrastructure programmes. 

Conclusion 

The ₹3,483 crore NHAI project awards significantly strengthen PNC Infratech’s roads order book and reinforce its position in HAM-based highway development. 

The projects also add medium-term execution visibility for the company as public infrastructure spending continues to remain a central theme in India’s transportation sector. 

Source:

•  https://www.nseindia.com/get-quote/equity/PNCINFRA/PNC-Infratech-Limited 
• https://nsearchives.nseindia.com/corporate/PNCINFRA_22052026150023_LOAupdate22052026.pdf