PNC Infra gets Rs 60 cr bonus for early completion of road project
Infrastructure firm PNC Infratech said it has received an amount of about Rs 60 crore as bonus from the Uttar Pradesh government for early completion a section on Agra-Lucknow expressway. The scheduled date to complete the 56 km Agra to Firozabad section on the highway was January 28, 2018, PNC Infratech Managing Director Yogesh Jain said. "We completed the project on October 31, 2017, 89 days ahead of the scheduled date," he said. The amount of Rs 58.23 crore has been paid by the Uttar Pradesh Expressways Industrial Development Authority (UPEIDA), UP government, Jain said. The large team of experts, new-age machinery and building material purchased in advance helped in early completion, Jain added. The company reported a jump of 21 per cent in its net profit at Rs 93.06 crore for the quarter ended December 2017. Its revenues from operations also rose to Rs 472.48 crore, from Rs 463.64 crore, during the corresponding three-month period of the previous fiscal. Agra-based PNC Infratech has a presence in over 12 states in India.