PNC Infratech’s ₹3,483 crore NHAI order win signals pickup in highway ordering activity
Himanshu Bose
PNC Infratech Ltd has secured a fresh boost to its highways order book after receiving Letters of Acceptance (LOAs) from the National Highways Authority of India (NHAI) for two hybrid annuity mode (HAM) road projects in Uttar Pradesh, together valued at ₹3,483 crore excluding GST.
The latest wins come at a time when road developers are closely tracking a revival in NHAI awarding activity after a relatively slower pace seen across parts of FY26. For EPC and HAM-focused players such as PNC Infratech, fresh order inflows remain a key monitorable for revenue visibility and execution growth over the next few years.
The projects are part of the NH(O) scheme and relate to the four-laning of stretches on NH-927 in Uttar Pradesh. According to the company’s filing, the first package involves the Barabanki-to-Mustafabad stretch and carries a quoted and accepted bid project cost of ₹1,728 crore.
The second package covers the Mustafabad-to-Biswariya section with an accepted bid project cost of ₹1,755 crore.
Both projects have been awarded under the HAM model, where project funding responsibility is shared between the government authority and the developer, helping reduce traffic-related risks compared to traditional BOT structures. The company said it emerged as the lowest (L1) bidder for both contracts and received the acceptance letters on May 22, 2026.
Execution timelines for both highway projects have been set at 24 months each.
The order win also reinforces PNC Infratech’s continued focus on the roads and highways segment, where the company has built a sizeable portfolio across EPC and HAM projects over the years. Investors typically track such announcements for their impact on future order book growth, revenue pipeline and equipment utilisation.
The company further clarified that the contracts were awarded by a domestic entity and do not involve related-party transactions.
Disclaimer: This article is based on company filings and publicly available information. Investors are advised to consult certified financial advisors before making investment decisions.