2 hrs ago
PNC Infratech Shares Slump 17% After NHAI Debarment
PNC Infratech is a company involved in building and operating roads.
Its shares fell sharply after the highways authority stopped the company and one of its subsidiaries from taking part in certain government road bids for three years.
The restriction followed damage to part of the Kanpur-Lucknow Expressway.
The company said it is studying the decision and may take legal action.
It also said its current projects can continue.
Investors sold the shares heavily, pushing them to ₹116.25.
The stock has fallen 33.76% over two days.
Separately, the company reported lower profit but higher revenue and EBITDA for the June 2026 quarter.
PNC Infratech shares fell 17% to a fresh 52-week low of ₹116.25 on 16 September.
The decline followed NHAI extending a three-year debarment of subsidiary Awadh Expressway Private Ltd to PNC Infratech.
The company said it is assessing the financial impact and evaluating legal remedies against the decision.
PNC Infratech said the debarment would not affect its going-concern status or existing project execution, operation and maintenance.
Consolidated net profit fell 23% year-on-year to ₹332 crore in the June 2026 quarter, while revenue rose 18.6% to ₹1,688 crore.
- Who
- PNC Infratech, its subsidiary Awadh Expressway Private Ltd, and the National Highways Authority of India.
- What
- NHAI extended a three-year debarment imposed on Awadh Expressway to PNC Infratech, sending the company’s shares sharply lower.
- Where
- The action concerns bids by the Ministry of Road Transport and Highways, NHAI and their executing agencies; the underlying incident involved the Kanpur-Lucknow Expressway.
- When
- The latest share decline occurred on Wednesday, 16 September, after NHAI’s communication dated 11 September.
- Why
- The action followed damage to a section of the Kanpur-Lucknow Expressway involving PNC Infratech’s concessionaire, Awadh Expressway.
PNC Infratech’s Position
NHAI’s Action
Effect of the debarment
PNC Infratech’s Position
PNC Infratech said the restriction would not affect its status as a going concern or the execution, operation and maintenance of its existing projects.
NHAI’s Action
NHAI extended the three-year bidding restriction from Awadh Expressway Private Ltd to PNC Infratech in its capacity as the concessionaire’s promoter.
Response to the decision
PNC Infratech’s Position
PNC Infratech said it is assessing the financial impact and evaluating legal remedies against the debarment.
NHAI’s Action
NHAI proceeded with the debarment after damage to a section of the Kanpur-Lucknow Expressway involving Awadh Expressway.
Key facts
- Share price low
- ₹116.25, a fresh 52-week low
- One-day decline
- 17% on 16 September
- Two-day decline
- 33.76%
- Debarment period
- Three years
- June 2026 net profit
- ₹332 crore, down 23% year-on-year
- June 2026 revenue
- ₹1,688 crore, up 18.6% year-on-year
- June 2026 EBITDA
- ₹523 crore, up 42.1% year-on-year
Sources
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