PNC Infratech JV Receives LOA for Rs. 559.53 Crore Ganga Bridge EPC Project in Kanpur
PNC Infratech and SPS Constructions India Private Limited's JV has received a Letter of Acceptance from UP State Bridge Corporation Ltd. for the construction of a 4-Lane Major Bridge Over Ganga River in Kanpur on EPC Mode. Following price negotiations, the contract value was reduced from Rs. 571.81 crore to Rs. 559.53 crore (excluding GST), with both JV partners holding a 50:50 participation ratio and a completion period of 36 months.
*this image is generated using AI for illustrative purposes only.
A joint venture (JV) comprising PNC Infratech and SPS Constructions India Private Limited has received a Letter of Acceptance (LOA) from UP State Bridge Corporation Ltd. (UPSBC) for a major infrastructure project in Uttar Pradesh. The development was disclosed in continuation of an earlier announcement dated May 13, 2026, pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, on May 14, 2026.
Project Overview
The JV had earlier been declared the First Lowest (L1) bidder by UPSBC upon opening of price bids on May 13, 2026, for the "Construction of 4-Lane Major Bridge Over Ganga River with Footpath on Bhairoghat Dhobighat Jalkal Campus, Connecting to Trans Ganga City to Kanpur City, including Approach Roads and Protection Works in District Kanpur UP on EPC Mode." Following negotiations held on the same day, the originally quoted price of Rs. 571.81 crore was reduced to Rs. 559.53 Crore (Rupees Five Hundred Fifty-Nine Crore and Fifty-Three Lakhs Only, Excluding GST), which was subsequently accepted by the Authority. The LOA dated May 13, 2026 was received by the JV in the late hours of that day. The two JV members — PNC Infratech and SPS Constructions India Private Limited — hold an equal participation ratio of 50:50.
Key Project Details
The following table summarises the key parameters of the awarded contract as disclosed by the company:
| Parameter: | Details |
|---|---|
| Awarding Entity: | UP State Bridge Corporation Ltd. (UPSBC) |
| Project Type: | Engineering, Procurement and Construction (EPC) |
| Project Nature: | Construction of 4-Lane Major Bridge Over Ganga River with Footpath, Approach Roads, and Protection Works in District Kanpur, UP |
| Domestic / International: | Domestic |
| Negotiated Price: | Rs. 559.53 Crore (Excluding GST) |
| Original Quoted Price: | Rs. 571.81 Crore |
| JV Participation Ratio: | 50:50 (PNC Infratech Ltd. and SPS Constructions India Pvt. Ltd.) |
| Completion Period: | 36 Months |
| Related Party Transaction: | Not Applicable |
| Promoter/Group Interest in Awarding Entity: | No |
Disclosure and Compliance
The disclosure was made in accordance with SEBI Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The communication was signed by Tapan Jain, Company Secretary & Compliance Officer.
Historical Stock Returns for PNC Infratech
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.87% | +0.41% | -0.84% | -13.70% | -26.11% | -17.87% |
How will the Rs. 559.53 crore Kanpur Ganga bridge contract impact PNC Infratech's order book and revenue visibility for FY2027-28?
Could this LOA signal a deeper strategic partnership between PNC Infratech and SPS Constructions, potentially leading to future joint bids on larger infrastructure projects in Uttar Pradesh?
Given the 36-month completion timeline, what execution risks—such as monsoon disruptions, land acquisition delays, or material cost inflation—could affect project margins for PNC Infratech?
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