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Hot Pursuit

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PNC Infratech gains after JV emerges as L1 bidder for Rs 572 crore bridge project in UP

13-May-26 15:30Hrs IST

According to the company's exchange filing, the project involves construction of a 4-lane major bridge over the Ganga River with footpath connectivity from Bhairoghat Dhobighat Jalkal Campus to Trans Ganga City and Kanpur City, including approach roads and protection works in Kanpur district on EPC mode.

The JV comprises PNC Infratech and SPS Constructions India Private Limited, with both partners holding an equal participation ratio of 50:50.

The company stated that the bid submitted by the JV was declared the first lowest (L1) bidder upon opening of financial bids on 13 May 2026.

The project is to be executed within a period of 36 months. PNC Infratech clarified that neither its promoters nor promoter group entities have any interest in the awarding authority and the contract does not fall under related-party transactions.

PNC Infratech is engaged in infrastructure development, construction and management activities across sectors including highways, bridges, flyovers, airport runways, power transmission lines and industrial area development.

On the financial front, the company reported a 5.8% year-on-year decline in consolidated net profit to Rs 76.7 crore in Q3 FY26 compared with Rs 81.4 crore posted in the corresponding quarter previous year. Revenue from operations declined 18.3% YoY to Rs 1,200 crore during the quarter.

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