Synopsis:
PNC Infratech wins a 300 MW solar project with a 150 MW/600 MWh energy storage system from NHPC, at ₹3.13 per unit tariff with a 25-year operation timeline.
This small-cap infra stock, engaged in infrastructure development, specializing in roads, highways, bridges, water supply, and urban infrastructure projects across India, jumped 7 percent after the company received an order for a 300 MW solar and 150 MW Energy Storage System Project from NHPC Limited.
With a market capitalization of Rs. 8,292.63 crores, the share of PNC Infratech Limited has reached an intraday high of Rs. 331.80 per equity share, rising nearly 6.60 percent from its previous day’s close price of Rs. 311.25. Since then, the stock has retreated and is currently trading at Rs. 323.25 per equity share.
PNC Infratech Limited has been selected as one of the lowest bidders (L1) by NHPC Limited for a major solar power project. The company won the bid through a reverse auction process for setting up a 300 MW Inter-State Transmission System (ISTS) connected solar power project with a 150 MW/600 MWh energy storage system. The project was awarded at a tariff rate of Rs. 3.13 per unit of electricity.
The project is expected to begin within 24 months of the Power Purchase Agreement (PPA) date and will operate for 25 years. This order strengthens PNC’s position in the renewable energy space and marks a significant business milestone.
PNC Infratech Limited was founded in 1999 and is headquartered in Agra, Uttar Pradesh. The company is a major Indian infrastructure company specializing in the engineering, procurement, and construction (EPC) of large-scale projects. The company has established itself as a leader in the construction, development, and management of infrastructure projects across the country, with a workforce exceeding 10,000 employees.
As of 31st March 2025, PNC Infratech Limited has a strong total order book of Rs. 17,792 crore, which is over 3.2 times its FY25 revenue. The company order book includes Rs. 8,509 crore from its top six road projects, Rs. 4,097 crore from four HAM (Hybrid Annuity Model) projects, Rs. 3,014 crore from water-related projects, and Rs. 2,172 crore from other projects.
PNC Infratech Limited serves a wide range of government clients, including NHAI, MES, AAI, UPPCL, UPEIDA, MSRDC, and various state departments like water, highways, and urban development, showing its strong presence in public infrastructure projects.
Coming into financial highlights, PNC Infratech Limited’s revenue has increased from Rs. 1,470 crore in Q3 FY25 to Rs. 1,704 crore in Q4 FY25, which has grown by 15.92 percent. The net profit has decreased by 7.41 percent from Rs. 81 crore in Q3 FY25 to Rs. 75 crore in Q4 FY25. PNC Infratech Limited’s revenue and net profit have grown at a CAGR of 3.85 percent and 8.18 percent, respectively, over the last five years.
In terms of return ratios, the company’s ROCE and ROE stand at 14.3 percent and 14.6 percent, respectively. PNC Infratech Limited has an earnings per share (EPS) of Rs. 31.8, and its debt-to-equity ratio is 1.56x.
Written By – Nikhil Naik
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