MoRTH Lifts Restrictions on PNC Infratech, Enabling Bid for New Projects
PNC Infratech has been cleared by the Ministry of Road Transport & Highways (MoRTH) to bid for new infrastructure projects starting from February 17, 2025. The move follows the ministry’s decision to reduce the restrictions initially imposed on the company, allowing it to expand its project portfolio in the infrastructure sector.
PNC Infratech, a prominent player in India’s infrastructure industry, has been under restrictions since October 2024. The company had previously been barred from bidding for new projects for one year due to some procedural requirements. However, MoRTH’s recent decision has reduced this period to just four months, giving PNC the green light to actively pursue fresh infrastructure projects from mid-February. This shift in policy is a significant boost for PNC Infratech, which is eager to expand its footprint in the infrastructure sector. The revised order, issued on February 6, 2025, allows the company and its special purpose vehicles (SPVs) to engage in new projects, subject to completing certain procedural formalities with the National Highways Authority of India (NHAI).
PNC Infratech’s order book currently exceeds ₹19,900 crore, with multiple major engineering, procurement, and construction (EPC) projects under construction. These include high-profile projects such as the Prayagraj-Kaushambi project under MoRTH, Jalna-Nanded and Pune Ring Road projects with the Maharashtra State Road Development Corporation, and the Akkalkot Pkg-II and Kanpur-Lucknow Expressway Pkg-2 under NHAI. These ongoing projects underscore the company’s strong position in the infrastructure sector, with a diversified portfolio spanning multiple regions and project types. With the lifting of restrictions, PNC Infratech is now well-placed to continue its expansion and secure additional large-scale contracts in the coming months.
In another positive development, PNC Infratech has received in-principle approval from NHAI to transfer its 100% stake in two subsidiaries—Bundelkhand and Khajuraho road projects—to the KKR-backed Highways Infrastructure Trust. This transaction, valued at an undisclosed amount, is expected to close by March 31, 2025, subject to receiving change-in-control approvals from NHAI and finalising necessary lender approvals. This strategic deal marks a key milestone for PNC, as the company moves ahead with its plans to monetise certain assets while maintaining its operational strength. The partnership with KKR-backed Highways Infrastructure Trust could also unlock new opportunities for further collaboration in the sector.
The lifting of the bidding restrictions by MoRTH signals a positive future for PNC Infratech as it continues to play a critical role in India’s infrastructure development. The company’s strong order book and strategic moves, such as the deal with KKR-backed Highways Infrastructure Trust, position it to thrive in the coming years. By securing new contracts and continuing its successful project execution, PNC Infratech is well on its way to cementing its place as a leader in the Indian infrastructure landscape. The company’s ability to adapt to changing regulatory environments and pursue new business opportunities speaks to its resilience and long-term vision for growth. With the lifting of restrictions, PNC Infratech is poised to capture new opportunities and contribute significantly to India’s infrastructure expansion in the years ahead. The road ahead looks promising for this dynamic company, as it looks to build on its past successes and move into a new phase of growth and innovation.
