Construction company PNC Infratech Ltd on Friday said it has emerged as the lowest bidder in two highway projects of NHAI worth Rs 2,720 crore in the states of Uttar Pradesh (UP) and Madhya Pradesh (MP).
In a filing to the Bombay Stock Exchange, the company said, “PNC Infratech Ltd has been declared the L1 (lowest) bidder in the following two (2) hybrid annuity highway projects of NHAI for an aggregate Bid Project Cost (BPC) of Rs 2,720 crore.”
The company said that one of the projects pertain to 4-laning of Jhansi-Khajuraho section of NH 75/76 (package I) in Uttar Pradesh and Madhya Pradesh under NHDP III for Rs 1,410 crore.
It added that 5 firms participated in the bidding and the price bids were opened on Thursday with PNC’S bid being the lowest (L1), it said.
Besides, the other project is 4-laning of Jhansi-Khajuraho section of NH 75/76 (Package II) from km 76.30 to km 161.70 km in UP and MP under NHDP III for Rs 1,310 crore, it said.
The company further added that, “Six firms participated in the bidding…with PNC’s bid being the lowest.”
Meanwhile, shares of the company were trading at Rs 115.40 apiece, up 1.36 per cent, from previous close on BSE at 15:14 hours.