- 16 Oct 2024
- ICICI Securities
PNC INFRA RECEIVES LOA FOR PROJECTS WORTH ₹4630 CRORE
News: PNC Infratech received Letters of Acceptance by MSRDC for two EPC road projects collectively worth ₹4630 crore. These projects, previously were worth ₹ 4994 crore, when it emerged L1. The first project is the construction of access controlled Pune ring road in Pune district, in the state of Maharashtra for an accepted contract price of ₹2268 crore. The second project is for the Construction of Access Controlled Expressway Connector to Hindu Hrudaysamrat Balasaheb Thackeray Maharashtra Samruddhi Mahamarg from Jalna to Nanded in the State of Maharashtra for an accepted contract price of ₹2362 crore. Both projects are to be executed within a construction period of 30 months.
Views: PNC Infra’s order book as of Q1 FY25 now stands revised at ₹18730 crore owing to reduced/negotiated contract prices for the above mentioned orders. The company also recently recieved LOA for orders worth ₹2040 crore as the ordering momentum provides a boost to the revenue visibility (having guided for a topline growth of 10%) and ensures that orders inflow guidance of ₹8000 to ₹10000 crore can be achieved.
Impact: Positive