PNC Infratech signs concession agreements with NHAI for ₹34.83 billion highway projects

PNC Infratech Limited has finalized concession agreements with the National Highways Authority of India for two national highway projects in Uttar Pradesh under the hybrid annuity mode. The projects represent an aggregate bid value of ₹34.83 billion and feature a 24-month construction window.

PNC Infratech Limited, a leading Indian infrastructure construction company, has formally executed concession agreements with the National Highways Authority of India for two major highway developments in Uttar Pradesh. The projects, which will be executed under the Hybrid Annuity Mode, carry a combined contract bid cost of ₹34.83 billion. The contracts were signed via special purpose vehicles incorporated by the infrastructure company, establishing a formalized framework to scale connectivity infrastructure across northern India.

The comprehensive scope of the contract involves the construction of a four-lane highway from Barabanki Design Chainage Km 0+000 to Mustafabad Design Chainage Km 43+030 on the section of NH-927 in Uttar Pradesh on HAM Mode under NH (O) Scheme (Package-I) for a value of ₹17.28 billion, as well as the construction of a four-lane highway from Mustafabad Design Chainage Km 43+030 to Biswariya Design Chainage Km 101+515 on the section of NH-927 in Uttar Pradesh on HAM Mode under NH(O) Scheme (Package-II) for a value of ₹17.55 billion. Both regional assets have a designated completion period of 24 months from their respective appointed dates and will be operated by the awardee for a post-construction period of 15 years.

This development underscores the continued momentum of public-private partnerships in modernizing India's core logistics corridors. National Highways Authority of India is the premier autonomous government agency responsible for managing a network of over 1,300,000 kilometers of national highways. The awardee, PNC Infratech Limited, is an ISO 9001:2015 certified infrastructure construction development company specializing in highways, bridges, flyovers, and airport runways. Enhancing the NH-927 corridor creates direct economic value by streamlining regional trade flows, directly impacting the logistics, industrial manufacturing, and automotive sectors through shortened transit timelines and reduced operating costs.

For public markets and institutional investors, this dual-package award solidifies PNC Infratech’s medium-term revenue visibility and reinforces the robustness of the government's public procurement frameworks. The predictable cash flows inherent to the Hybrid Annuity Mode framework reduce traffic risk for the contractor while ensuring private capital deployment stays aligned with national infrastructure targets. As commercial corridors across Uttar Pradesh expand, businesses operating within these manufacturing and agricultural zones stand to capture substantial supply chain efficiencies, reinforcing long-term regional asset valuation.