Construction Industry News
PNC Infratech rose 11.46% to Rs 271.85 after the Engineering, Procurement and Construction (EPC) company announced the receipt of Rs 37.02 crore for a bonus for the early completion of one of its EPC projects of Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) of the Government of India (Council).
The project involved the development of the Purvanchal Expressway in Uttar Pradesh.
The project was completed on November 30, 2021, which is 97 days before the planned completion date. Accordingly, the bonus of Rs 37 crore, calculated at 0.04% of the contract cost of Rs 954 crore, has been received by the company for each day of early completion.
