PNC Infratech - Well-Positioned To Capitalise On Strong Industry Tailwinds: Axis Securities
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Axis Securities Report
We believe PNC Infratech Ltd. is well-placed to take advantage of the government push to the infrastructure development and emerging opportunities in the construction space by leveraging its strong management pedigree and healthy financial position.
The company’s order book stood robust at Rs 12,095 crore (2.46 times of FY21 revenue) as of June 2021 end, comprising road projects (both engineering procurement and consturction and hybrid annuity model).
The company has recently diversified into water related infrastructure projects as well and has received water supply projects totalling Rs 4757 crore.
PNC Infratech’s healthy cumulative order book of Rs 15,522 crore reflects comfortable revenue visibility for the next two to three years.
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