PNC Infratech

** Shares of India's PNC Infratech PNCI.NS sink 20% to 140.32 rupees, their lowest level since October 21, 2024

** Construction and engineering co received letter from NHAI (National Highway Authority of India) debarring subsidiary Awadh Expressway for three years

** Debarment bars co from bidding for any new projects of NHAI or Ministry of road transport and highways

* Co says development will not impact status as a going

concern and/or the execution, operathantion, and maintenance of its ongoing projects

** About 4.5 million shares traded, 6.9x their 30-day moving average

** Stock down 44.25% YTD

(Reporting by Anushka Rajvedi in Bengaluru)

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PNC Infratech received a letter from the National Highways Authority of India on 11 September 2026 extending the debarment of its concessionaire Awadh Expressway Private Limited to the company as promoter for three years. It was barred from participating in bids of the Ministry of Road Transport and Highways, NHAI and their executing agencies during the period, while execution, operation and maintenance of ongoing projects continued and legal remedies were being evaluated. The action followed an earlier intimation on 6 August 2026 relating to the concessionaire. PNC builds roads and other infrastructure for NHAI, MoRTH, state public works departments and other agencies across 16 states, with roads accounting for about three-quarters of consolidated revenue of Rs5,368 crore in FY26. Its order book stood at more than Rs19,100 crore in the June quarter, with about 41% from central clients. A 12-month disqualification imposed by MoRTH was cut to four months in February 2025, after which bidding resumed.

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Sept 14 (Reuters) - PNC Infratech Ltd PNCI.NS:

• NHAI EXTENDS DEBARMENT OF AWADH EXPRESSWAY FOR THREE YEARS

Source text: ID:nBSE52rJZk

Further company coverage: PNCI.NS

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CARE Ratings reviewed the long-term bank facilities of PNC Infratech subsidiary Awadh Expressway Private Limited and placed the rating on watch with developing implications at CARE A+. The amount under review was ₹757.43 crore, down from ₹776.85 crore. Awadh Expressway was subject to an NHAI show-cause notice in August over a 300-metre slippage on the Kanpur-Lucknow package. PNC Infratech's consolidated debt stood at ₹5,448 crore against cash and current investments of ₹2,870 crore. The company's roads business accounted for about 76% of FY26 consolidated revenue of ₹5,368 crore.

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PNC Infratech won an arbitration award of Rs 244 crore against the Public Works Department of Uttar Pradesh for the rehabilitation and upgradation of the Sonauli-Gorakhpur section of National Highway 29E. An arbitral tribunal led by former Supreme Court judges published the majority award on 31 July, directing the state department to pay within six months, with 9% annual interest on amounts not paid in time. The award is separate from a Rs 485 crore arbitration award the company won against NHAI in May 2025. PNC reported standalone revenue of Rs 4,633 crore for the year to March and an order book of roughly Rs 18,094 crore.

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PNC Infratech's subsidiary Kanpur Lucknow Expressway Private Limited has received a provisional completion certificate from the independent engineer for the six-lane upgradable to eight-lane Kanpur Lucknow Expressway in Uttar Pradesh, with a bid project cost of ₹1,413 crore. The certificate, dated 10 June 2026, declares the project fit for commercial operations effective 27 April 2026. The project was executed under the hybrid annuity mode for NHAI, with a revised scheduled completion date of 27 April 2026. Achieving PCOD marks the end of construction and the beginning of annuity payments, reducing execution risk and providing a predictable revenue stream. The milestone is a key positive for the company's ongoing project execution track record.

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May 22 (Reuters) - PNC Infratech Ltd PNCI.NS:

• PNC INFRATECH LTD - RECEIVES LOA FOR 2 HAM PROJECTS WORTH 34.83 BILLION RUPEES

Source text: ID:nBSE4W9VkV

Further company coverage: PNCI.NS

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May 19 (Reuters) - PNC Infratech Ltd PNCI.NS:

• PNC INFRATECH MARCH-QUARTER CONSOL NET PAT 1.08 BILLION RUPEES

• PNC INFRATECH MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 16.17 BILLION RUPEES

Source text: [ID:]

Further company coverage: PNCI.NS

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May 12 (Reuters) - PNC Infratech Ltd PNCI.NS:

• PNC INFRATECH LTD - 2.35 BILLION RUPEES TO BE RECEIVED BY CO FROM NHAI IN TERMS OF SETTLEMENT AGREEMENT

Source text: ID:nBSEPQtl2

Further company coverage: PNCI.NS

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May 7 (Reuters) - PNC Infratech Ltd PNCI.NS:

• PNC INFRATECH LTD - DECLARED L1 BIDDER FOR EPC PROJECT IN LUCKNOW FOR 1.94 BILLION RUPEES

Source text: ID:nBSE4mNhvJ

Further company coverage: PNCI.NS

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May 5 (Reuters) - PNC Infratech Ltd PNCI.NS:

• ACCEPTS NHAI PAYMENT OFFER OF 2.35 BILLION RUPEES FOR ONE-TIME SETTLEMENT

Source text: ID:nBSE3gq4M7

Further company coverage: PNCI.NS

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April 21 (Reuters) - PNC Infratech Ltd PNCI.NS:

• EMERGES AS L1 BIDDER IN TWO NH PROJECTS FOR 34.83 BILLION RUPEES

Source text: ID:nBSE3kXNBm

Further company coverage: PNCI.NS

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March 31 (Reuters) - PNC Infratech Ltd PNCI.NS:

• DEVENDRA KUMAR AGARWAL RESIGNS AS CFO

Source text: ID:nBSE4TMV6H

Further company coverage: PNCI.NS

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Feb 9 (Reuters) - PNC Infratech Ltd PNCI.NS:

• PNC INFRATECH LTD DEC-QUARTER CONSOL NET PAT 767.5 MILLION RUPEES

• PNC INFRATECH LTD DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 12 BILLION RUPEES

Source text: ID:nBSE1kFSsx

Further company coverage: PNCI.NS

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Rewrites with statement from Adani Enterprises

By Gopika Gopakumar

MUMBAI, Nov 19 (Reuters) - India's Adani Enterprises ADEL.NS said on Wednesday that creditors of Jaiprakash Associates JAIA.NS have approved its takeover proposal for the bankrupt infrastructure group.

Earlier in the day, Reuters, citing two officials, reported that the creditors, mostly Indian banks, opted for Adani's 135-billion-rupee ($1.53 billion) bid over Vedanta's VDAN.NS higher 170-billion-rupee offer because it included larger upfront payments preferred by stakeholders.

Adani Enterprises did not disclose the value of its offer in its statement.

Besides Adani and Vedanta, other bidders included Dalmia Bharat DALB.NS, Jindal Power JDPO.BO and PNC Infratech PNCI.NS. Controlling shareholder Manoj Gaur also submitted a last-minute bid, which was later withdrawn, the report said.

Jaiprakash Associates, once one of India's largest infrastructure conglomerates, owes creditors 550 billion rupees. Insolvency proceedings under India's bankruptcy laws were initiated last June, making it one of the biggest ongoing bankruptcy cases in the country.

Vedanta's bid entailed a five-year payment timeline, significantly longer than the 1.5-2 years proposed by Adani, swaying creditor preferences, one of the officials said.

"Creditors have voted in favor of Adani. Now the committee of creditors (CoC) will take a final decision, likely reaffirming this outcome, and submit it to the National Company Law Tribunal (NCLT)," one of them added.

The National Asset Reconstruction Company (NARCL), which acquired Jaiprakash's loans from a lender consortium led by State Bank of India SBI.NS, leads the list of claimants in the ongoing resolution process.

Emails sent to Manoj Gaur and NARCL were not immediately answered.

A spokesperson from Vedanta had said the company respects the CoC's "commercial discretion".

($1 = 88.5350 Indian rupees)

(Reporting by Gopika Gopakumar; Editing by Sonia Cheema)

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Oct 13 (Reuters) - PNC Infratech Ltd PNCI.NS:

• PNC INFRATECH LTD - INCORPORATED SUBSIDIARY PNC RENEWABLE ENERGY

Source text: ID:nBSEcdMWDY

Further company coverage: PNCI.NS

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** Construction firm PNC Infratech PNCI.NS rises as much as 4.25% to 319.7 rupees

** Co chosen for a bridge and road construction project in the state of Bihar, valued at 4.96 billion rupees ($56.23 million)

** The project is scheduled to be completed within three years

** YTD, PNCI stock down ~7%

($1 = 88.2160 Indian rupees)

(Reporting by Ananta Agarwal in Bengaluru)

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Sept 19 (Reuters) - PNC Infratech Ltd PNCI.NS:

• PNC INFRATECH LTD - RECEIVES LOA FOR BRIDGE AND ROAD PROJECT IN BIHAR

• PNC INFRATECH LTD - PROJECT VALUED AT 4.96 BILLION RUPEES

Source text: ID:nBSEc21GB2

Further company coverage: PNCI.NS

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Sept 18 (Reuters) - PNC Infratech Ltd PNCI.NS:

• PNC INFRATECH - RECEIPT OF FROVISIONAL COMPLETION CERTIFICATE FOR PROJECT EXECUTED BY UNIT

Source text: ID:nnAZN4JIZB6

Further company coverage: PNCI.NS

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** India's PNC Infratech PNCI.NS rises as much as 6.7% to two-month high of 325 rupees

** An Indian competition watchdog approves company's proposal to acquire construction company Jaiprakash Associates JAIA.NS

** About 2.9 milion shares of PNCI change hands so far, ~9x of 30-day daily average volume

** Fourteen analysts, which track the company, have avg rating of "buy"; median PT at 378 rupees

** YTD, stock down 2.6%

(Reporting by Vivek Kumar M)

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Sept 10 (Reuters) - PNC Infratech Ltd PNCI.NS:

• SUBSIDIARY RECEIVES APPOINTED DATE FOR HIGHWAY PROJECT

Source text: ID:nNSE4yPXx7

Further company coverage: PNCI.NS

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Sept 5 (Reuters) - PNC Infratech Ltd PNCI.NS:

• EMERGES AS L-1 BIDDER FOR BRIDGE IN BIHAR

• WINS BID FOR BRIDGE AT 4.96 BLN RUPEES

Source text: ID:nBSE7bFqjZ

Further company coverage: PNCI.NS

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** PNC Infratech PNCI.NS rises 2.7% to 312 rupees, their biggest intraday pct-gain since late July

** Construction co wins contract worth 2.97 billion rupees ($33.94 million) from Airports Authority of India for extension of runway at Varanasi airport

** Stock rated "buy" on avg; median PT is 378 rupees - data compiled by LSEG

** Stock down 8.9% YTD

($1 = 87.5060 Indian rupees)

(Reporting by Aleef Jahan in Bengaluru)

(([email protected]))

** PNC Infratech PNCI.NS rises 3.4% to 309 rupees; marks biggest intraday pct gain since June 5

** Infrastructure co declared lowest bidder by South Eastern Coalfields (SELC) for mining in Chhattisgarh

** Contract value at 29.57 bln rupees ($340.5 mln)

** Stock sees busiest session since July 17, with more than 645,112 shares traded - 27.3x of 30-day avg

** YTD, PNCI falls 7.5%

($1 = 86.8550 Indian rupees)

(Reporting by Rudra Pratap Singh in Bengaluru)

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July 28 (Reuters) - PNC Infratech Ltd PNCI.NS:

• CO LOWEST BIDDER FOR PROJECT VALUED AT 29.57 BILLION RUPEES

Source text: ID:nBSEbT78DT

Further company coverage: PNCI.NS

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** Shares of PNC Infratech Ltd PNCI.NS rise as much as 6.6% to 331.8 rupees
** Infrastructure company emerged as lowest bidder in tender issued by NHPC Ltd NHPC.NS for setting up of inter-state transmission system (ISTS) connected solar power projects
** Out of total capacity, company awarded 300 MW ISTS-connected solar power project with 150 MW/600 MWh energy storage system at a tariff of 3.13 rupees/kWh
** Stock on track to gain for fourth straight day
** More than 3.8 mln shares traded as of 9:39 a.m. IST, 3.8x their 30-day moving avg
** Mean rating of stock is 'buy'; their median PT is 373.5 rupees - data compiled by LSEG
** PNCI last up 4.7%, cutting YTD losses to 6.7%

(Reporting by Meenakshi Maidas in Bengaluru)

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July 16 (Reuters) - PNC Infratech Ltd PNCI.NS:

• PNC INFRATECH LTD- EMERGED AS ONE OF LOWEST BIDDERS IN TENDER FLOATED BY NHPC

• PNC INFRATECH LTD- ORDER FOR CONSIDERATION OF 3.13 RUPEES/KWH

Source text: [ID:]

Further company coverage: PNCI.NS

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** Shares of PNC Infratech PNCI.NS gain 10.7% to 316.8 rupees

** Stock set for biggest one-day rise since December 2024, if gains hold

** Construction co forecasts over 20% rev growth in FY26; targets 150 billion rupees ($1.75 billion) order inflows

** ICICI Securities says co unlocking 20 bln rupees surplus cash via asset monetisation by H1FY26, will help it pursue more infra projects; maintains "Add" rating, hikes TP by 9.5% to 294 rupees

** Co's Q4 net profit plunged 81% Y/Y, hurt by lower orders and delayed execution; rev dropped 34%

** Avg rating on stock is "buy"; median PT is 381 rupees - data compiled by LSEG

** Stock down 5% YTD

($1 = 85.9040 Indian rupees)

(Reporting by Aleef Jahan in Bengaluru)

(([email protected]))

April 22 (Reuters) - PNC Infratech Ltd PNCI.NS:

• WINS EPC PROJECT FOR FLYOVER IN BHARATPUR

• PROJECT QUOTED PRICE IS 2.40 BILLION RUPEES

Source text: ID:nBSE7c2jd6

Further company coverage: PNCI.NS

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Feb 10 (Reuters) - PNC Infratech Ltd PNCI.NS:

• DEC-QUARTER CONSOL NET PAT 813.9 MILLION RUPEES

• DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 14.7 BILLION RUPEES

Source text: ID:nBSEyrj61

Further company coverage: PNCI.NS

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