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