PNC Infratech receives bonus for early completion of road projects
ROADS & HIGHWAYS

PNC Infratech receives bonus for early completion of road projects

PNC Infratech increased 11.46% to Rs 271.85 after the Engineering, Procurement, and Construction (EPC) company announced the receipt of Rs 37.02 crore towards a bonus for the early completion of one of its EPC projects from Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) of Government of India (GoI).

The project involved the Purvanchal Expressway development in Uttar Pradesh.

On 30 November 2021, the project was completed, which is 97 days ahead of the scheduled completion date. Accordingly, the bonus of Rs 37 crore, figured at 0.04% of the contract cost of Rs 954 crore, for each day of early completion has been received by the company.

PNC Infratech is engaged in infrastructure development via the construction of highways, including build, operate and transfer projects (BOT), bridges, airport runways, flyovers, and power transmission projects among others.

The company's consolidated net profit dropped 52.89% to Rs 82.98 crore despite an 8.84% increase in sales to Rs 1721.82 crore in Q3 FY22 over Q3 FY21.

Image Source

Also read: PNC Infratech sole DBFOT bidder for Haridwar personal rapid transit

PNC Infratech increased 11.46% to Rs 271.85 after the Engineering, Procurement, and Construction (EPC) company announced the receipt of Rs 37.02 crore towards a bonus for the early completion of one of its EPC projects from Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) of Government of India (GoI). The project involved the Purvanchal Expressway development in Uttar Pradesh. On 30 November 2021, the project was completed, which is 97 days ahead of the scheduled completion date. Accordingly, the bonus of Rs 37 crore, figured at 0.04% of the contract cost of Rs 954 crore, for each day of early completion has been received by the company. PNC Infratech is engaged in infrastructure development via the construction of highways, including build, operate and transfer projects (BOT), bridges, airport runways, flyovers, and power transmission projects among others. The company's consolidated net profit dropped 52.89% to Rs 82.98 crore despite an 8.84% increase in sales to Rs 1721.82 crore in Q3 FY22 over Q3 FY21. Image Source Also read: PNC Infratech sole DBFOT bidder for Haridwar personal rapid transit

Next Story
Infrastructure Energy

Sungrow Launches New Energy Storage System at Smart Energy Week 2025

Sungrow, a global leading PV inverter and energy storage system provider, is set to unveil its latest energy storage and power conditioning systems (PCS) at Smart Energy Week [PV EXPO] 2025 at Tokyo Big Sight. The showcase features over 13 state-of-the-art products, including the newly developed water-cooled C&I energy storage system ST510CS-4H, PowerTitan Series grid-scale energy storage system, and JET-certified 5.5kW string inverter SG5.5RS-JP. ST510CS-4H: Next-generation liquid cooling C&I energy storage system At Sungrow's booth, the newly launched ST510CS-4H features its inno..

Next Story
Real Estate

Dubai's Housing Market Soars: 55% More Deals, 44% Sales Value Jump

During the October–December 2024 quarter, Dubai’s residential market recorded 33,110 registered transactions, representing a 55 per cent year-on-year (Y-o-Y) increase compared to the 21,405 transactions recorded during the same period in 2023. This growth in annual activity demonstrates strong buyer interest, while the minor quarterly adjustment indicates a steady, healthy market. The registered home sales value (GTV) for the quarter reached AED 65.23 billion, marking a 44 per cent Y-o-Y increase over the AED 45.45 billion reported in October–December 2023. Average registered home sales ..

Next Story
Technology

Moro Hub Partners with MongoDB to Accelerate Digital Transformation

Moro Hub, a subsidiary of Digital DEWA, the digital arm of Dubai Electricity and Water Authority (PJSC), has announced a strategic partnership with MongoDB to help organisations in the region build the next generation of applications faster by innovating more efficiently and simplifying complex architectures. The partnership was officially signed between Mohammed Bin Sulaiman, CEO of Moro Hub and Boris Bialek, Field CTO of MongoDB, at the Museum of the Future in the emirate of Dubai. This collaboration underscores Moro Hub’s commitment to empower enterprises and government entities. With a..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?