PNC Infratech Ltd. received a letter of acceptance on Monday for second-phase construction of a four-lane elevated corridor in Madhya Pradesh.
The contract worth Rs 699 crore from the Public Works Department is for the flyover construction from Maharani Laxmibai Pratima to AB road in Gwalior, according to an exchange filing on Monday.
The construction will be based on the engineering, procurement and construction model. The time period for execution of the project is 36 months, the infrastructure construction firm said.
In January, the company also received a letter of award of Rs 1,174 crore from the Madhya Pradesh Road Development Corp. for building the Western Bhopal Bypass as a four-lane project with a length of 40.9 km on a hybrid-annuity model.
Shares of PNC Infratech closed 5.32% higher at Rs 447.10 apiece on the BSE, compared to a 0.48% decline in the benchmark Sensex.
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