PNC Infratech rises after emerging as L1 bidder for SECL mining contract

PNC Infratech rose 3.37% to Rs 308.50 after the company announced that it has emerged as the L1 (first lowest) bidder for a mining services contract worth Rs 2956.66 crore from South Eastern Coalfields (SECL), Bilaspur and Chhattisgarh.

The project includes handling, transport, and other mining services. This involves hiring heavy earthmoving machinery for overburden removal and coal extraction using a surface miner. It also covers loading and transporting the extracted coal to different locations in the Gevra OCP expansion project in Chhattisgarh.

The total quoted value of the contract is Rs 2,956.66 crore, and it will be carried out over five years.

PNC Infratech is one of the foremost Indian infrastructure investment, development, construction, operation, and management companies in India. The company provides end-to-end infrastructure implementation solutions that include design, engineering, procurement, construction, and O&M services on EPC, Design-Build-Finance-Operate-Transfer (DBFOT), Toll, Annuity, Hybrid Annuity, Operate-Maintain-Transfer, and other formats, under one roof.

The company?s consolidated net profit slumped 81% to Rs 75.48 crore on a 34.5% drop in net sales to Rs 1704.11 crore in Q4FY25 over Q4 FY24.

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