PNC Infratech Limited was incorporated on 9th August 1999 as PNC Construction Company Private Limited. The Company was converted into a limited company in 2001 and was renamed PNC Infratech limited in 2007. PNC Infratech Limited is one of the front-ending infrastructure development, construction, and management companies in the country. The company undertakes infrastructure projects, including highways, bridges, flyovers, power transmission lines and towers, airport runways, industrial area development, and other infrastructure activities. Presenting below are its Q1 FY26 earnings results.
Q1 FY26 Earnings Results
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Standalone Revenue from Operations: ₹1,136.5 crores, down 19.7% YoY and 33.9% YoY for consolidated revenue (₹1,422.8 crores) due to a high base last year with one-time claims and bonuses.
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Standalone EBITDA: ₹141 crores, margin 12.4%; consolidated EBITDA is ₹367 crores, margin 25.8%.
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Standalone PAT: ₹80.77 crores, margin 7.1%.
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Consolidated PAT: ₹431.31 crores, margin 30.3% (includes exceptional asset sale gains).
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Standalone EPS: ₹2.53; consolidated EPS: ₹16.80 (down 25% YoY).
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Debt-to-Equity Ratio: 0.07x as of June 30, 2025, indicating strong balance sheet.
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Order Book: Over ₹17,000 crores, primarily highways, some water EPC.
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Strategic Asset Monetization: ₹1,827.6 crores in equity consideration through sale of 10 road assets, plus ₹716.2 crores from latest divestment.
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Segment Revenue (Q1 FY26 vs Q1 FY25): EPC: ₹1,083cr (-32%); Water: ₹103cr (-64%); Toll/Annuity: ₹237cr (-16.5%); consolidation reflects high previous base.
Management Commentary & Strategic Decisions
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Management emphasized underlying earnings strength despite headline revenue decline due to last year’s large non-recurring claims and bonuses.
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The company maintains FY26 growth guidance of 15–20%, with new HAM/EPC appointed dates in Q2/Q3 expected to boost execution.
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Aggressively pursuing ₹7,000–10,000 crores of new orders, focused on highway infrastructure, leveraging operational discipline and robust bidding pipeline.
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Asset monetization is a cornerstone, recent sales delivered strong returns and optimized capital for future growth.
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Prudent financial management, low debt, and efficient capital recycling are reaffirmed as strategic priorities.
Q4 FY25 Earnings Results
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Standalone Revenue from Operations: ₹1,415 crores.
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Standalone EBITDA: ₹176 crores (margin 12.4%).
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Standalone PAT: ₹121 crores (margin 8.6%).
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Standalone EPS: ₹15.40 (quarterly), reflecting strong previous year base.
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Consolidated Revenue: ₹1,704 crores; PAT: ₹75 crores.
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Entire FY25 Standalone Revenue: ₹6,769 crores (EBITDA ₹1,049 crores, PAT ₹815 crores, margin 12.8%).
To view the company’s previous earnings and latest concall transcripts, click here to visit the Alphastreet India news channel.