PNC Infratech emerges lowest bidder for two NHAI HAM projects.

PNC Infratech Limited has emerged as the lowest (L1) bidder in two hybrid annuity model (HAM) highway projects floated by the National Highways Authority of India (NHAI), with a combined bid project cost of ₹3,483 crore, excluding GST.

According to the company, the financial bids for both projects were opened on April 21, 2026.

The first project involves the construction of a four-lane highway from Barabanki Design Chainage Km 0+000 to Mustafabad Design Chainage Km 43+030 (existing chainage Km 0.000 to Km 43.700) on NH-927 in Uttar Pradesh under the NH (O) Scheme (Package-I). The company quoted a bid project cost of ₹1,728 crore for this package.

The second project covers the stretch from Mustafabad Design Chainage Km 43+030 to Biswariya Design Chainage Km 101+515 (existing chainage Km 43.700 to Km 98.475) on the same highway corridor in Uttar Pradesh under the NH (O) Scheme (Package-II). The quoted bid project cost for this segment is ₹1,755 crore.

Both projects are to be executed under the hybrid annuity model, a funding structure used for highway development that combines government support with private sector investment, aimed at accelerating infrastructure delivery while sharing financial risk.