PNC Infratech, an infrastructure construction company, has announced that it has been awarded a project worth Rs 771.46 crore by Haryana Rail Infrastructure Development Corporation (HRIDC) Limited.
The project involves designing and constructing civil works from 29.68-49.7 km and 55.6-61.5 km to connect the Indian Railways network from New Patli to Patli Station and New Patli to Sultanpur Station other tasks.
The civil works included in the project involve earthwork, bridges, station building, retaining walls, and other miscellaneous works. The project is expected to be completed within 30 months.
The company received a Letter of Acceptance (LoA) from Haryana Rail Infrastructure Development Corporation Limited on April 6, 2023, per the regulatory filing. The LoA is a formal letter issued by a contracting authority indicating that they have accepted a bid from a contractor and intend to proceed with the project.
This is not the first award for PNC Infratech this month. The company received a letter of award from NHAI for three of its projects earlier in the month.
The shares of PNC Infratech Limited rose by 0.26% to close at Rs 287 on April 6. This was on a day when Indian stock markets logged gains for a second consecutive week, aided by real estate and financial stocks, after the Reserve Bank of India kept its key policy rate unchanged in a surprising decision.