PNC Infratech Poised To Perform, Says Centrum Broking
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Centrum Broking Report
PNC Infratech Ltd.‘s proven credentials, strong growth outlook and sustained cash generation make for a strong investment case.
After a 2.8 times scale up in revenue over FY17-20 (2.4 times in recurring profit before tax) the company is actively looking to add more verticals, which should help sustain a healthy growth beyond FY23.
We estimate 21% standalone earnings compound annual growth rate for PNC over FY21-23 led by its robust order backlog and prospects in segments like highways and water.
The company’s growth outlook remains supported by its operating cash flows, sale proceeds from Ghaziabad-Aligarh project and surplus cash.
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