PNC Infratech signs HAM pacts worth Rs 3483 crore with NHAI

PNC Infratech Limited has signed concession agreements with the National Highways Authority of India (NHAI) for two Hybrid Annuity Mode (HAM) highway projects with an aggregate bid project cost of Rs 3483.00 crore. The agreements were signed on July 16, 2026, by Special Purpose Vehicles incorporated by the company for project implementation. The projects involve the construction of 4-lane highways in Uttar Pradesh under the NH (O) Scheme.

The first project, designated as Package-I, covers the construction of a 4-lane highway from Barabanki Design Chainage Km 0+000 to Mustafabad Design Chainage Km 43+030 on NH-927. The SPV for this project is Barabanki Mustafabad Highway Private Limited, with a bid project cost of Rs 1728.00 crore. The second project, Package-II, extends from Mustafabad Design Chainage Km 43+030 to Biswariya Design Chainage Km 101+515 on the same highway section. Mustafabad Biswariya Highway Private Limited is the concessionaire for this package, which has a bid project cost of Rs 1755.00 crore.

Project Details

Project Name	Name of SPV (Concessionaire)	Bid Project Cost (Rs. Crore)
Construction of 4 Lane highway from Barabanki Design Chainage Km 0+000 to Mustafabad Design Chainage Km 43+030 on NH-927 (Package-I)	Barabanki Mustafabad Highway Private Limited	1728.00
Construction of 4 Lane highway from Mustafabad Design Chainage Km 43+030 to Biswariya Design Chainage Km 101+515 on NH-927 (Package-II)	Mustafabad Biswariya Highway Private Limited	1755.00

Both projects are scheduled for construction within 24 months from the declaration of their respective appointed dates. Following the construction phase, the highways will be operated and maintained for a period of 15 years.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.37%	+2.24%	+5.86%	+13.76%	-24.95%	-23.44%

PNC Infratech Limited has incorporated a wholly owned subsidiary, Barabanki Mustafabad Highway Private Limited, as a special purpose vehicle (SPV) to implement a highway project awarded by the National Highways Authority of India (NHAI). The company received the Certificate of Incorporation on June 21, 2026, for the entity incorporated on June 17, 2026. This strategic move strengthens PNC Infratech's infrastructure portfolio by adding a dedicated project vehicle for the construction of a 4-lane highway in Uttar Pradesh on the Hybrid Annuity Mode (HAM).

Subsidiary and Project Details

Barabanki Mustafabad Highway Private Limited has been established to execute the construction of a 4-lane highway from Barabanki Design Chainage Km 0+000 to Mustafabad Design Chainage Km 43+030 (Existing Chainage Km 0.000 to Chainage Km 43.700) on the section of NH-927 in Uttar Pradesh. The project will be undertaken on HAM Mode under the NH (O) Scheme (Package-I). The entity is yet to commence business operations.

Capital Structure and Shareholding

PNC Infratech Limited holds 100% of the equity shares in the new SPV. The subscription was made by the company along with its another wholly owned subsidiary, PNC Infra Holdings Limited. The initial capital structure details are as follows:

Parameter	Details
Authorized Capital	Rs. 15,00,000 (1,50,000 Equity shares of Rs. 10 each)
Subscribed and Paid-up Capital	Rs. 10,00,000 (1,00,000 Equity shares of Rs. 10 each)
Shareholding	100% (Wholly Owned Subsidiary)
CIN	U42101DL2026PTC467540

Regulatory Compliance

The disclosure was made in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, and follows the company's prior announcements dated April 21, 2026, and May 22, 2026. The acquisition does not fall within related party transactions, and no specific governmental approvals were required for the incorporation.