6 days ago
PNC Infratech has executed over 90 major infra projects: CMD Pradeep Kumar Jain
PNC Infratech
has executed over 90 major
infrastructure projects
in the country including roads, highways, expressways and bridges, the company's
CMD Pradeep Kumar Jain
said.
Jain shared the update on projects in a letter to stakeholders on the occasion of completing 10 successful years since its listing on stock exchanges.
Jain said till now, the company has executed over 90 major infrastructure projects spread across 13 states, including roads, highways, expressways, bridges, flyovers, airport runways and other pavements and industrial area development projects.
In the period from FY 2015 to FY 2024, the revenue has grown from Rs 1,561 crore to Rs 7,699 crore, at a CAGR of 19.4 per cent.
On the profitability front, the company's EBITDA has grown from Rs 217 crore to Rs 1,277 crore a CAGR of 21.8 per cent, and
profit after tax
has grown from Rs 100 crore to Rs 850 crore at CAGR of 26.8 per cent (in the period from FY 2015 to FY 2024).
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On May 23, PNC Infratech announced it has completed the stake sale in 10 of the company's road assets to
Highways Infrastructure Trust
(HIT).
Highways Infrastructure Trust (HIT) is an Infrastructure Investment Trust (InvIT), whose sponsor is affiliated with funds, vehicles.
This divestment is aligned with the company's strategic objective of recycling the capital invested in operating road assets and reinvesting the capital in fund-based opportunities in the infrastructure space, it added.
In January 2024, it executed definitive agreements with HIT to divest 12 of its road assets, comprising 11 National Highway (NH) Hybrid Annuity Model (HAM) assets and 1 State Highway BOT Toll asset with approximately 3,800 lane-km aggregate length, located in Uttar Pradesh, Madhya Pradesh, Karnataka, and Rajasthan, in two tranches.
