PNC Infratech-SPML combine bags major water supply projects in UP
Agra-based PNC Infratech Ltd in a joint venture with water infrastructure developer SPML Infra received letters of award (LoA) for six new EPC (engineering, procurement & construction) projects in Uttar Pradesh.
The companies have bagged the orders from the State Water Supply & Sanitation Mission, Namami Gange & Rural Water Supply Departments. The work involves survey, design, preparation of DPRs, construction, commissioning and O&M for 10 years of rural water supply for 2475 villages across six districts of Uttar Pradesh.
The works have been given out for 608 villages in Kasgunj district, 500 villages in Badaun district, 452 villages in Pilibhit district, 315 villages in Amroha district, 300 villages in Rampur district and 300 villages in Sambhal district.
The project are to be constructed and put on trial in a period of 21 months upon signing the agreement and operated for 10 years, post-commissioning. While PNC Infratech’s share in the JV is 95 per cent, or share will be approximately Rs 186 crore.
Including the six new projects, the JV has secured a total of eight mandates in the rural drinking water supply so far for an aggregate estimated value of over Rs 3717 crore while specific value will be known at the time of agreement, after preparation and approval of detailed project reports (DPRs) for the projects.
SPML Infra’s share in the six projects will be about Rs 186 crore, or five per cent, while PNC Infratech will retain 95 per cent.
Also, SPML Infra has received an order under various JVs arrangements valued at Rs 316.91 crore. The projects are to be executed in Patyora Danda, Kota Mustakil group of villages, Haraulipur group of villages and Lagon group of villages.
Meanwhile, PNC Infratech Ltd has reported nearly 14 per cent rise in total revenues on consolidated basis for the third quarter ended December 2020 at Rs 1582.02 crore as against Rs 1390.41 crore for the corresponding quarter of previous year. The company’s consolidated profit after tax (PAT) for the December 2020 quarter jumped over 163.29 per cent at Rs 176.14 crore as against Rs 66.90 crore in Q3 of previous year. The company said its net PAT margins also improved to 11.13 per cent in December 2020 quarter from 4.81 per cent in December 2019.
