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.

PNC Infratech Limited (PNC Infra), a prominent infrastructure development company, has announced a significant milestone in its business operations. The company has secured a substantial contract worth ₹3,488.86 crore from South Eastern Coalfields Limited (SECL), marking a major boost to its order book.

Contract Details

The company received the Letter of Acceptance for a project titled "Handling, Transport and Other Mining Services - Hiring of HEMM for OB Removal and Coal Extraction by Surface Miner and Loading and Transportation of Extracted Coal to different destinations at Gevra OCP Expansion Project" in the state of Chhattisgarh.

Key aspects of the contract include:

Project Scope

The project involves comprehensive mining services, including:

1. Hiring of Heavy Earth Moving Machinery (HEMM) for overburden removal
2. Coal extraction using surface miners
3. Loading and transportation of extracted coal to various destinations

This contract is part of the Gevra Open Cast Project (OCP) Expansion, indicating SECL's efforts to enhance coal production and streamline its mining operations.

Company Position

PNC Infratech emerged as the L1 (First Lowest) Bidder for this project, showcasing its competitive edge in the infrastructure and mining services sector. The company's success in securing this large-scale project underscores its strong capabilities and reputation in handling complex mining and transportation operations.

Additional Information

It's worth noting that the promoter group has no interest in the awarding entity, and the contract does not fall under related party transactions. This information adds transparency to the contract award process.

Conclusion

This major contract win by PNC Infratech from South Eastern Coalfields Limited not only strengthens the company's position in the infrastructure and mining services sector but also contributes significantly to its long-term growth prospects. As the project unfolds over the next five years, it will be interesting to observe its impact on PNC Infra's operational and financial performance.