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PNC Infratech - Well-Positioned To Capitalise On Strong Industry Tailwinds: Axis Securities

PNC Infratech - Well-Positioned To Capitalise On Strong Industry Tailwinds: Axis Securities

<div class="paragraphs"><p>Workers prepare to move a concrete barrier block with a crane at the site. (Photographer: Atul Loke/Bloomberg).</p></div>
Workers prepare to move a concrete barrier block with a crane at the site. (Photographer: Atul Loke/Bloomberg).

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

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.

Click on the attachment to read the full report:

Axis Securities PNC Infratech Ltd. Initiating Coverage.pdf

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