PNC Infratech Limited announced its financial performance for the quarter and nine months ended December 31, 2025 (Q3 FY26). Standalone revenue for Q3 FY26 was Rs. 1,056 crore with an EBITDA margin of 12.4% and PAT of Rs. 77 crore (PAT Margin 7.3%). The 9M FY26 standalone revenue reached Rs. 3,176 crore. The company maintains a robust order book exceeding Rs. 19,300 crore, and its strategic asset monetization continues to progress.
Q3 FY26 Financial Highlights (Standalone)
PNC Infratech Limited reported key financial highlights for the third quarter ending December 31, 2025 (Q3 FY26). Standalone Revenue for the quarter stood at Rs. 1,056 crore. The EBITDA generated was Rs. 131 crore, translating to an EBITDA Margin of 12.4%. Profit After Tax (PAT) for the period was Rs. 77 crore, achieving a PAT Margin of 7.3%.
Nine Months FY26 Performance (Standalone)
For the nine months ending December 31, 2025 (9M FY26), standalone Revenue was Rs. 3,176 crore. The EBITDA was Rs. 408 crore, yielding an improved EBITDA Margin of 12.8%. The consolidated PAT for 9M FY26 reached Rs. 244 crore, with a PAT Margin of 7.7%.
Consolidated Performance Summary
On a consolidated basis, Q3 FY26 Revenue was Rs. 1,201 crore, with an EBITDA of Rs. 239 crore (19.9% margin). For 9M FY26, consolidated Revenue was Rs. 3,751 crore. A significant Exceptional Item gain of Rs. 430 crore (net of tax) was recognized in 9M FY26 due to the monetization of 11 HAM Assets, resulting in a consolidated PAT of Rs. 724 crore for the nine months.
Robust Orderbook Position
The company’s Orderbook as of December 31, 2025, remains robust, standing at over Rs. 19,300 crore (specifically Rs. 19,346 crore in the detail table). This value is noted to be over 3.5 times the FY25 revenue. The order book includes Rs. 1,511 crore for which the appointed date is still awaited. EPC projects across Road Highway, Road Expressway, Railway, Airport Runway, and Canal segments constitute 71% of this total order book.
Progress in Asset Monetization
The strategic objective of recycling capital has seen progress with the completion of the sale of equity stake in 10 road assets to Vertis Infrastructure Trust in May 2025, covering 10 HAM assets for an equity consideration of Rs. 1,827.6 Crores. In July/August 2025, the stake in one additional subsidiary was transferred for Rs. 153 Crores. The total equity invested in these 11 assets was Rs. 1,446 Crores. The sale process for the final remaining asset is targeted for completion by March 31, 2026.
Operational Project Portfolio
The operational portfolio consists of three annuity/toll projects. For instance, the Gwalior Bhind Toll project has a Total Project Cost (TPC) of Rs. 340.3 Crs, and the Rae Bareli Jaunpur Annuity project has a TPC of Rs. 837.4 Crs. Regarding the HAM projects, the total Invested Equity amount is Rs. 1,110 Crs across projects currently under construction or financial closure submission.
Diversification and Execution Capability
The company is diversifying into new sectors, highlighted by a Solar Project EPC value of approximately Rs. 2,000 crores and a Mining Project contract valued at Rs. 2,957 Crores. PNC Infratech maintains strong working capital limits, including Fund Based Limits of Rs. 1,000 crores and Non-Fund Based Limits of Rs. 5,000 crores. Current capital expenditure is projected to enable the company to achieve a turnover of Rs. 10,000–12,000 crores.
Source: BSE
