PNC Infratech Secures Rs 3,483 Crore NHAI HAM Highway Projects in Uttar Pradesh

BY ADMIN • FILED 17 Jul 2026, 12:24 PM

PNC Infratech Limited has strengthened its order book by securing two National Highways Authority of India (NHAI) highway projects with a combined bid project cost of ₹3,483 crore. The projects have been awarded under the Hybrid Annuity Model (HAM) and involve developing key highway stretches in Uttar Pradesh.

The company informed the stock exchanges that the concession agreements for both projects were signed on July 16, 2026.

Two Major Highway Projects in Uttar Pradesh

The newly awarded contracts are part of the construction of a four-lane highway on National Highway (NH)-927 and are divided into two packages:

Package I: Construction of the Barabanki–Mustafabad section covering approximately 43 kilometres, with a project cost of ₹1,728 crore.
Package II: Construction of the Mustafabad–Biswariya section spanning around 58 kilometres, valued at ₹1,755 crore.

Together, the projects have a total bid project cost of ₹3,483 crore.

Project Execution Timeline

According to the concession agreements:

Construction period: 24 months from the appointed date.
Operation period: 15 years after completion of construction.

The projects will be executed under the Hybrid Annuity Model (HAM), a project delivery mechanism widely adopted by NHAI for national highway development.

Why the HAM Model Matters

The Hybrid Annuity Model combines elements of the Engineering, Procurement and Construction (EPC) model with the Build-Operate-Transfer (BOT) framework.

Under this model:

The government funds a significant portion of the project cost during construction.
The developer is responsible for construction and maintenance.
The remaining investment is recovered through fixed annuity payments over the concession period.

This structure reduces project financing risks while providing developers with long-term and relatively stable cash flows.

Strengthening PNC Infratech’s Order Book

The latest project wins further reinforce PNC Infratech’s strong presence in India’s highway construction sector and deepen its association with NHAI.

With infrastructure development continuing to remain a key focus area for the Government of India, these contracts are expected to strengthen the company’s execution pipeline and provide long-term revenue visibility.

As the country accelerates investments in roads, highways and transport infrastructure, PNC Infratech remains well-positioned to benefit from future opportunities in the sector.