PNC Infratech Ltd. has signed concession agreements with the National Highways Authority of India (NHAI) for two Hybrid Annuity Mode (HAM) highway projects in Uttar Pradesh, with a combined bid project cost of ₹3,483 crore. The agreements were executed on July 16 between NHAI and the special purpose vehicles (SPVs) incorporated by the company for implementing the projects.
The first project involves the four-laning of the Barabanki–Mustafabad section of NH-927 under the NH(O) Scheme (Package-I). It will be executed by Barabanki Mustafabad Highway Private Limited, an SPV of PNC Infratech, and carries a bid project cost of ₹1,728 crore.
The second project covers the four-laning of the Mustafabad–Biswariya section of NH-927 under the NH(O) Scheme (Package-II). This project will be undertaken by Mustafabad Biswariya Highway Private Limited, with a bid project cost of ₹1,755 crore.
Both projects will be developed under the Hybrid Annuity Mode, with a construction period of 24 months from the appointed date, followed by an operation and maintenance period of 15 years. The projects are aimed at improving connectivity on the NH-927 corridor and strengthening the road infrastructure network in Uttar Pradesh.
Following the announcement, PNC Infratech’s shares rose nearly 6% during intraday trade, reflecting positive investor sentiment over the addition of the new highway projects to the company’s order book. The latest contracts further reinforce the company’s presence in the national highways sector and enhance its execution pipeline in the road infrastructure segment.