PNC Infratech Ltd
NSE:PNCINFRA
PNC Infratech Ltd
PNC Infratech Ltd. engages in the infrastructure development and construction business. The company is headquartered in Agra, Uttar Pradesh. The company went IPO on 2015-05-26. The firm is primarily engaged in the areas of infrastructure projects, including highways, bridges, flyovers, power transmission lines, airport runways and other infrastructure activities. The firm's segments include EPC Contract and BOT (Toll and Annuity). The company offers end-to-end infrastructure implementation solutions that include engineering, procurement and construction (EPC) services. The company is involved in the construction and development of highways, bridges and flyovers, and industrial area development. The firm implements projects on various public-private-partnership (PPP) formats, including design-build finance-operate-transfer (DBFOT) and hybrid models. The company focuses on road-building projects in Uttar Pradesh, Madhya Pradesh, Rajasthan, Uttarakhand, Bihar, Delhi, Karnataka and Maharashtra.
PNC Infratech Ltd. engages in the infrastructure development and construction business. The company is headquartered in Agra, Uttar Pradesh. The company went IPO on 2015-05-26. The firm is primarily engaged in the areas of infrastructure projects, including highways, bridges, flyovers, power transmission lines, airport runways and other infrastructure activities. The firm's segments include EPC Contract and BOT (Toll and Annuity). The company offers end-to-end infrastructure implementation solutions that include engineering, procurement and construction (EPC) services. The company is involved in the construction and development of highways, bridges and flyovers, and industrial area development. The firm implements projects on various public-private-partnership (PPP) formats, including design-build finance-operate-transfer (DBFOT) and hybrid models. The company focuses on road-building projects in Uttar Pradesh, Madhya Pradesh, Rajasthan, Uttarakhand, Bihar, Delhi, Karnataka and Maharashtra.
Revenue Decline: Stand-alone revenue for the first 9 months of FY '26 fell by about 22%–23% year-on-year, with management now guiding for a full-year revenue decline of around 10% versus FY '25.
Q4 Recovery Expected: Management expects a strong rebound in Q4 with stand-alone revenue between INR 1,700–1,800 crores, targeting full-year revenue of approximately INR 5,000 crores.
Order Book & Pipeline: Unexecuted order book stood at over INR 19,000 crores as of December 2025, with a healthy bid pipeline of over INR 1.2 lakh crores and submitted bids worth INR 28,700 crores.
Margin Guidance Lowered: EBITDA margin guidance for both FY '26 and FY '27 has been reduced to 12%–12.5%, down from the previous 12.5%–13% range.
International Expansion: The company submitted two overseas road project bids in Uzbekistan, valued at INR 1,500 crores, marking the start of its international strategy.
Cash Position: Stand-alone cash and equivalents were INR 1,299 crores and consolidated cash was INR 2,745 crores as of December 2025.
Order Inflow Outlook: Management expects total order inflow of around INR 12,000 crores for the current financial year, aiming for further growth in FY '27.
Receivables Improving: Outstanding water project receivables are gradually being cleared, with expectations for further improvement by March and in the next fiscal year.
