Highlights
- PNC Infratech has received a Letter of Acceptance from Lucknow Development Authority.
- The EPC contract is valued at INR 194.40 crore, excluding GST.
- PNCINFRA shares traded higher following the project award disclosure.
PNC Infratech Limited (NSE:PNCINFRA) has received a Letter of Acceptance (LOA) from the Lucknow Development Authority (LDA), Uttar Pradesh, for a road infrastructure project in Lucknow. The company disclosed that it received the LOA on June 1, 2026, although the letter is dated May 27, 2026.
The project involves the construction of a four-lane flyover along with two loops and two ramps at the Shaheed Path Intersection on the right-hand-side bank of the Gomti River in Lucknow. The work will be executed under the Engineering, Procurement and Construction (EPC) model.
Source: Analysis by Kalkine
Project Valued at INR 194.40 Crore
According to the company's exchange filing, the total consideration for the project stands at INR 194.40 crore, excluding GST. The contract has been awarded by the Lucknow Development Authority, a domestic government entity responsible for urban infrastructure development in the city.
The company stated that the project falls under the EPC framework, under which the contractor is responsible for design, procurement of materials, and execution of construction activities within the prescribed timeline.
Construction Timeline Fixed at 24 Months
PNC Infratech has indicated that the project is scheduled to be completed within 24 months from the commencement of work.
The proposed flyover and associated infrastructure are intended to improve connectivity at the Shaheed Path intersection, a key transport corridor in Lucknow. The project includes construction of ramps and loops designed to facilitate smoother traffic movement in the area.
Company Clarifies Regulatory Details
As part of its disclosure under SEBI regulations, PNC Infratech stated that neither its promoters, promoter group entities, nor group companies have any interest in the authority awarding the contract.
The company further clarified that the project does not fall under related-party transactions. These disclosures form part of the reporting requirements prescribed under SEBI's Listing Obligations and Disclosure Requirements regulations.
Share Performance
PNC Infratech shares traded in positive territory following the project announcement. As on June 2, 2026, the stock was trading at INR 208.81, 0.84% from the previous close of INR 207.07. The stock opened at INR 210.95 and touched an intraday high of INR 212.90. During the session, it recorded a low of INR 208.80, while the volume-weighted average price (VWAP) stood at INR 211.05.
Source: TradingView
Key Risks
- Project execution delays could affect completion timelines.
- Cost inflation may impact project-level profitability.
- Regulatory approvals could influence construction schedules.
- Adverse weather conditions may disrupt project execution.
Summary
PNC Infratech (NSE:PNCINFRA) has secured a new EPC contract worth INR 194.40 crore from the Lucknow Development Authority for the construction of a four-lane flyover with associated ramps and loops at the Shaheed Path intersection in Lucknow. The project carries a completion timeline of 24 months. Following the announcement, PNCINFRA shares traded higher as investors assessed the implications of the latest order win on the company's project pipeline.
FAQs
Q: What is the value of PNC Infratech's newly awarded project?
A: The project is valued at INR 194.40 crore, excluding applicable GST.
Q: Who awarded the flyover construction contract to PNC Infratech?
A: The contract was awarded by the Lucknow Development Authority, Uttar Pradesh.
Q: What is the completion timeline for the project?
A: The company has stated that the project is scheduled for completion within 24 months.