About PNC Infratech Limited

 

PNC Infratech Limited is an established Indian infrastructure development, construction, operation and management company with proven execution across nationally significant projects. Incorporated on August 09, 1999 as PNC Construction Company Private Limited, it became a limited company in 2001 and was renamed PNC Infratech Limited in 2007; the Company is listed on the National Stock Exchange and Bombay Stock Exchange. Its capabilities span highways, expressways, bridges, flyovers, airport runways, drinking water supply, irrigation, industrial area development, railways and transmission lines, supported by a large equipment fleet and skilled workforce. PNC Infratech has delivered 90 major infrastructure projects across 13 Indian states and is presently executing 20 major projects; its portfolio includes 4 BOT (toll and annuity) assets and 13 Hybrid Annuity Model (HAM) projects at various stages of operation and development. The Company holds long-term CARE AA+ and short-term CARE A1+ debt ratings with a Stable outlook.

 

As on March 31, 2025, the Company had one direct subsidiary and thirty step-down subsidiaries. After the year-end, it invested in and acquired 74% equity shares in PW Infratech Private Limited, resulting in a joint venture.

 

PNC Infratech Limited Milestones 

 

Key milestones include completing and commissioning four national highway HAM projects during the year (aggregate Bid Project Cost Rs 4,318 crore; 4-laning of over 196 km), with two—Mathura 1C and Hardoi Bypass—finished 61 days and 168 days ahead of schedule, earning early completion bonuses totalling Rs 19 crore. The Company also delivered on a large-scale asset monetisation, transferring 10 operational HAM national highway assets to an InvIT sponsored by KKR Inc. and affiliates for an Enterprise Value of Rs 7,443.6 crore (including Rs 1,827.6 crore received towards equity value), with additional receivables of approximately Rs 200.0 crore as per definitive agreements; divestment of the remaining two assets is expected by H1 FY 2025-26. It secured three major EPC projects in Maharashtra (two from MSRDC and one area development project from CIDCO) with an aggregate contract value of Rs 6,670 crore; the unexecuted order book as on March 3, 2025 stood at Rs 17,700 crore.

 

PNC Infratech Limited’s Business Segments

 

• Road: 85.1% of standalone revenue in FY 2024-225.

 

• Water EPC: 14.9% of standalone revenue in FY 2024-25. The Company reports these as identifiable operating segments under Ind AS 108.

 

PNC Infratech Limited Key Management

 

• Pradeep Kumar Jain – Chairman and Managing Director.

 

• Chakresh Kumar Jain – Managing Director.

 

• Yogesh Kumar Jain – Managing Director.

 

• Anil Kumar Rao – Whole Time Director.

 

• Talluri Raghupati Rao – Whole Time Director.

 

• Devendra Kumar Agarwal – Chief Financial Officer.

 

• Tapan Jain – Company Secretary.

 

Latest Updates on PNC Infratech Limited

 

• Completed sale of equity stakes in 10 road assets to Highways Infrastructure Trust (now Vertis Infrastructure Trust), with handover on May 21–22, 2025; sale of equity in two remaining assets is expected in H1 FY 2025-26 upon fulfilment of conditions precedent.

 

• Monetised the 10 operational HAM assets for an Enterprise Value of Rs 7,443.6 crore; Rs 1,827.6 crore received towards equity value, with approximately Rs 200.0 crore remaining receivables as per agreements.

 

• Achieved PCOD/completion for four HAM highway projects (aggregate Bid Project Cost Rs 4,318 crore; over 196 km 4-lane) and earned early completion bonuses of Rs 19 crore for Mathura 1C and Hardoi Bypass.

 

• Secured three EPC projects in Maharashtra (MSRDC x2; CIDCO x1) with aggregate value Rs 6,670 crore; unexecuted order book at Rs 17,700 crore as on March 31, 2025.

 

• Debt ratings reaffirmed at CARE AA+ (long-term) and CARE A1+ (short-term), Outlook: Stable.