Project Completion Update

PNC Infratech Receives PCOD for Rs. 819 Crore HAM Highway Project

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PNC Infratech announced receipt of Provisional Completion Certificate (PCOD) for an HAM highway project in Uttar Pradesh executed through its subsidiary.

PRICE-SENSITIVE TRIGGER

Event: Receipt of Provisional Completion Certificate

Type: Project Completion Update

Impact: Positive

Immediate Effect: The project’s commercial operations eligibility may support revenue recognition and annuity cash flow visibility

Key Metrics:

Project Cost: Rs. 819 crore
Project Type: Hybrid Annuity Mode (HAM)
Highway Stretch: NH-731A, Uttar Pradesh
Completion Period: 730 days
Provisional Completion Date: March 31, 2026

Highlight:

PNC Infratech achieved PCOD for a major HAM highway project in Uttar Pradesh

What Happened ?

PNC Infratech informed exchanges that its subsidiary, Prayagraj Kaushambi Highway Package 3 Private Limited, received the Provisional Completion Certificate for a highway project in Uttar Pradesh.

The project involves:

Construction of a 4-lane highway
NH-731A stretch from Km 49.155 to Km 74.700
Hybrid Annuity Mode execution

The independent engineer issued the completion certificate on May 8, 2026.

key highlights

Project Details:

The authority is Ministry of Road Transport & Highways through UPPWD.
The project was executed under HAM mode.
The highway includes paved shoulders and Ganga Bridge section.
The project achieved completion within the grace period.
The scheduled completion date was January 31, 2026.
Commercial operation eligibility is effective from March 31, 2026.

Note:

The project completion strengthens PNC Infratech’s execution track record in road infrastructure.

Risk Analysis

Key Risks

Traffic and operational risk
Maintenance obligations under HAM structure
Cash flow realization risk

Worst Case Scenario

Operational inefficiencies or delays in annuity payments could impact project returns.

Risk Level: Low

Company Commentary

PNC confirmed receipt of the Provisional Completion Certificate.
The company disclosed that the project became fit for commercial operations from March 31, 2026.

Official Exchange Filing: PNC Infratech Limited