- Business
- PNC Infratech Limited is an Indian infrastructure investment, development, construction, operation, and management company focused on core sectors including highways, expressways, bridges, flyovers, airport runways, power transmission lines, water supply projects, waste management, industrial area development, urban infrastructure, mining services, and solar power projects. The company provides end-to-end solutions encompassing engineering, procurement, and construction (EPC) on a fixed-sum turnkey basis; design-build-finance-operate-transfer (DBFOT) toll projects; hybrid annuity mode (HAM), annuity, operate-maintain-transfer (OMT), and other public-private partnership (PPP) models; as well as long-term operation and maintenance (O&M) services. It executes projects across multiple formats for national highways, state highways, airports, power infrastructure, bridges, runways, sewage systems, smart city initiatives, overburden removal, coal extraction and transport using heavy earth-moving machinery, and energy storage systems integrated with solar installations. Founded in 1999 and headquartered in Agra, Uttar Pradesh, India, PNC Infratech operates primarily in India across states such as Uttar Pradesh, Madhya Pradesh, Karnataka, Rajasthan, Bihar, and Chhattisgarh, serving government entities including the National Highways Authority of India (NHAI), NTPC, South Eastern Coalfields Limited (SECL), and Bihar State Road Development Corporation. In recent developments, the company has divested stakes in 11 out of 12 special purpose vehicles managing approximately 3,800 lane kilometers of highway assets—including 11 national highway HAM projects and one state highway BOT toll project—to KKR-backed Highways Infrastructure Trust and Vertis Infrastructure Trust, with transactions valued at around Rs 9,000 crore and NHAI approvals secured progressively through 2024 and 2025. It has also secured major new contracts, including a Rs 3,489 crore mining order from SECL for the Gevra OCP expansion project involving coal handling, overburden removal, and transport over five years in July 2025; a Rs 1,402 crore letter of award from NTPC in August 2025 for a 300 MW ISTS-connected solar power project with 150 MW/600 MWh energy storage; and a Rs 496 crore EPC contract from Bihar State Road Development Corporation in September 2025 for a high-level bridge and approach road to be completed in three years. These strategic divestments enable capital recycling for growth, while new orders in mining, solar, and bridge construction diversify its portfolio beyond traditional road infrastructure amid NHAI's ambitious FY26 target of 6,300 km in new project awards.