PNC Infratech , a leading infrastructure construction, development, and management company, has reported its financial results for the quarter ended June 30, 2025, along with significant progress in its strategic asset divestment initiative.

Financial Performance

PNC Infratech's Board approved the unaudited standalone and consolidated financial results for Q1 FY26. Key highlights include:

Strategic Divestments

Post-quarter, PNC Infratech successfully completed the sale of its equity stake in PNC Bareilly Nainital Highways Private Limited to Vertis Infrastructure Trust for an Enterprise Value of ₹716.20 crores. This transaction marks the completion of 11 out of 12 assets under the strategic divestment initiative announced in January 2024.

Future Outlook

The company expects to divest its final asset, PNC Challakere Karnataka Highways Private Limited, in H1 FY26, subject to the fulfillment of certain conditions precedent.

Corporate Governance

The Board made two key appointments:

1. M/s Gaurav Jain & Associates as Cost Auditors for FY 2025-26
2. Mr. Deepak Gupta as scrutinizer for the upcoming 26th Annual General Meeting

Despite the challenging economic environment, PNC Infratech continues to focus on its core infrastructure development activities and strategic initiatives to optimize its portfolio and strengthen its financial position for future growth opportunities in the infrastructure sector.

PNC Infratech Limited (PNC), a leading infrastructure construction, development, and management company, has made significant strides in its strategic divestment initiative while simultaneously securing a major mining contract. These developments mark important milestones for the company's growth and operational strategy.

Completion of 11th SPV Transfer

PNC Infratech, along with its wholly-owned subsidiary PNC Infra Holdings Limited, has successfully transferred its entire stake in PNC Bareilly Nainital Highways Private Limited to Vertis Infrastructure Trust (VIT). This transaction, concluded on July 31 and August 1, 2025, represents the 11th out of 12 Special Purpose Vehicles (SPVs) identified for transfer under a Share Purchase Agreement executed in January 2024.

The deal was finalized at an Enterprise Value of Rs 716.20 crore, which includes:

• Rs 153.48 crore received against equity and debentures
• Rs 239.35 crore against unsecured loans

Additionally, PNC Infratech expects to receive approximately Rs 80.00 crore in additional receivables from VIT in the future, as stipulated in the definitive agreement.

Financial Impact of the Transfer

The transferred SPV, PNC Bareilly Nainital Highways Private Limited, contributed significantly to the company's financials in the previous fiscal year:

Progress on Strategic Divestment

With this transaction, PNC Infratech has now completed the transfer of 11 out of the 12 assets outlined in the January 2024 agreement. These assets comprise 11 National Highway Hybrid Annuity Mode (HAM) projects and 1 State Highway BOT (Toll) project, spanning approximately 3,800 lane-km across Uttar Pradesh, Madhya Pradesh, Karnataka, and Rajasthan.

The company anticipates transferring the final asset, PNC Challakere Karnataka Highways Private Limited (a HAM Project), in the first half of FY26, subject to fulfilling the remaining conditions precedent.

New Mining Contract Secured

In a separate development, PNC Infratech has received a Letter of Acceptance from South Eastern Coalfields Limited (SECL) for a significant mining project. The contract, valued at Rs 3,488.86 crore (inclusive of 18% GST), involves:

• Handling, Transport, and Other Mining Services
• Hiring of HEMM for OB Removal
• Coal Extraction by Surface Miner
• Loading and Transportation of Extracted Coal

This project will be executed at the Gevra OCP Expansion Project in Chhattisgarh over a period of five years.

Looking Ahead

These recent developments showcase PNC Infratech's strategic moves to optimize its asset portfolio while securing new, high-value contracts. The completion of the SPV transfers aligns with the company's divestment strategy, potentially freeing up capital for future growth initiatives. Simultaneously, the new mining contract from SECL demonstrates PNC's ability to secure large-scale projects, diversifying its revenue streams beyond road infrastructure.

As PNC Infratech continues to execute its strategic plans, investors and industry observers will be keen to see how these moves translate into long-term growth and value creation for the company.