PNC Infratech's shares climbed roughly 2% in early trade on August 28, following the company's news that it was the lowest bidder for a Rs 380 crore project awarded by the National Highways Authority of India. 

At 09:21am, PNC Infratech was trading at Rs 466.60, up Rs 8.25, or 1.80%, on the BSE.

According to the company's release, PNC Infratech has been declared the L1 (First Lowest) bidder for the highway and bridge project, which includes the construction of a new 3-lane bridge across the River Canga. This bridge would connect Buxar and Bharauli along NH-922 in Uttar Pradesh and Bihar. The project, which will be completed on a hybrid annuity basis, has a bid cost of Rs 380 crore.

The project will take 910 days to complete, followed by a 15-year operational phase.

PNC Infratech's net profit increased by 218% in the quarter ended June 2024, hitting Rs 575.17 crore.