PNC Infratech L1 for Lucknow flyover deal in 2026

What PNC Infratech announced

PNC Infratech Limited said it has been declared the L1 (first lowest) bidder for a domestic EPC contract awarded by the Lucknow Development Authority (LDA) in Uttar Pradesh. The quoted contract price is ₹194.40 crore. The company disclosed the development under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The project is planned to be executed on an Engineering, Procurement and Construction (EPC) basis. The stated completion period is 24 months.

The update adds to a series of project-related announcements and reports around the company across EPC and hybrid annuity mode (HAM) road projects. Separately, a Reuters headline also referenced a PNC Infratech joint venture being declared the lowest bidder for an EPC project worth 5.72 billion rupees (₹572 crore), though the excerpt did not provide project details.

Lucknow project: location and scope

The Lucknow contract relates to the construction of a 4-lane flyover with 2 loops and 2 ramps at the Shaheed Path Intersection on the RHS bank of the Gomti River in Lucknow. The work is to be executed on an EPC basis, meaning a single contractor is responsible for engineering, procurement, and construction.

PNC Infratech said it secured the L1 position on 7 May 2026 at the quoted price of ₹194.40 crore. The awarding authority is the Lucknow Development Authority. The company described the contract as a domestic project and reiterated the 24-month completion timeline.

Disclosures on promoter interest and related-party status

In its disclosure, PNC Infratech clarified that neither the promoter nor the promoter group or group companies have any interest in the entity awarding the contract. It also stated that the transaction does not fall under related party transactions.

Such clarifications are typically relevant for listed companies because they address potential conflicts of interest and governance concerns. The company’s statement, as provided, focused on confirming that the award does not involve promoter-linked interests.

NHAI HAM projects: combined bid cost ₹3,483 crore

PNC Infratech also said it emerged as the lowest (L1) bidder for two HAM-based National Highway projects floated by the National Highways Authority of India (NHAI). The combined bid project cost was stated at ₹3,483 crore, excluding GST.

The excerpted details break the two projects into: one valued at ₹1,728 crore and another at ₹1,755 crore. The execution time mentioned for both projects is 24 months. The note also referenced that the financial bid opened on Tuesday, 21 April, after which the company indicated it had emerged L1.

Rajasthan PWD EPC order: Bharatpur flyover

Another project mentioned in the provided material is an EPC flyover contract in Bharatpur, Rajasthan. PNC Infratech was declared L-1 bidder for the project titled “Construction of Flyover from Heeradas Chouraha to Kumher Gate Chouraha in Bharatpur City, Bharatpur on EPC Mode.” The quoted price for this contract is ₹239.94 crore, with a stated completion period of 24 months.

The same set of excerpts also describes that the order was confirmed with issuance of a Letter of Acceptance (LoA) on 6 June 2025 and disclosed to exchanges on 7 June 2025. The awarding authority is stated as PWD Rajasthan.

UP-Bihar bridge and highway work: ₹380 crore, 910 days

The material also references a highway and bridge construction project valued at ₹380 crore spanning Uttar Pradesh and Bihar. The project described includes the construction of an additional 3-lane bridge over the River Ganga, connecting Buxar and Bharauli on NH-922, under the hybrid annuity mode (HAM).

The construction period for this project is stated as 910 days. The excerpt further adds that upon completion, PNC Infratech would be responsible for operating the bridge and related infrastructure for 15 years.

Order book snapshot and FY26 inflow expectations (as stated)

One excerpt in the provided text cited the company’s order book as of Q3 FY25 at ₹18,900 crore, described as around 2.9x book-to-bill. The same passage stated that PNC Infratech expected accelerated awarding activity from MoRTH and NHAI, noting that it had been cleared to participate in the MoRTH/NHAI bidding process from 18 February 2025.

It also included an expectation for FY26 order inflows of ₹13,000-₹15,000 crore. These figures were presented as part of a view/outlook section within the supplied content.

Market reaction mentioned in the excerpts

The material contained two separate stock-move references tied to different announcements and dates. One excerpt stated that PNC Infratech climbed 3.2% to ₹314.95 in Monday’s trade following confirmation of the ₹239.94 crore EPC order from Rajasthan PWD.

Another excerpt (from a Hindi segment) stated that on Wednesday, 22 April, the stock was trading around ₹223, up about 6.9%, with the move attributed to investor reaction to the NHAI HAM order news. These price and percentage changes are presented as reported within the provided text.

Key project details at a glance

Why these wins matter for investors tracking EPC and HAM

Across the excerpts, the common thread is PNC Infratech’s participation in both EPC and HAM formats, spanning urban flyovers and national highway packages. The Lucknow flyover project is a municipal/urban mobility contract on EPC, while the NHAI packages and the Ganga bridge project are framed in HAM, which typically combines construction with longer-term operational commitments.

The project timelines are also tightly defined in the disclosures cited. The Lucknow flyover, the NHAI packages, and the Bharatpur flyover each mention a 24-month completion period, while the Ganga bridge package mentions 910 days plus a longer operation and maintenance responsibility. For markets, the reported order book level (₹18,900 crore as of Q3 FY25, per the excerpt) provides context for how incremental wins may add to execution visibility.

Conclusion

PNC Infratech’s disclosure of being declared L1 for the ₹194.40 crore Lucknow flyover EPC contract adds another near-term project to the company’s set of referenced wins and bids across EPC and HAM. Alongside the ₹3,483 crore NHAI HAM packages (excluding GST) and the ₹239.94 crore Bharatpur EPC order with a June 2025 LoA, the announcements point to continued tender participation across states. The next key step for the Lucknow project would typically be the formal award/acceptance process, while execution timelines in the disclosures remain anchored at around two years for several of these projects.