PNC Infratech has been declared as the lowest bidder for the road project worth Rs 6.44 billion in the state of Uttar Pradesh, under NHDP Phase- IV.

The NHAI project to be executed on EPC basis and scope includes improvement, augmentation of 146.4 km long Aligarh-Moradabad section of NH-93 to two lanes with paved shoulders. The price bids were opened on Nov. 3, 2015 with PNC's bid being declared the lowest.

PNC has an order intake of Rs 17.43 billion in the current year and the firm's order book in terms of contracts pending execution has crossed Rs 40 billion; this includes projects where the company is lowest bidder, but is yet to receive the letters of award (LoA).

PNC Infratech is an infrastructure construction, development and management company, with expertise in execution of major infrastructure projects, including highways, bridges, flyovers, airport runways, power transmission lines, development of industrial areas and other infrastructure activities.

Shares of the company declined Rs 1.50, or 0.28%, to trade at Rs 525.50. The total volume of shares traded was 836 at the BSE (11.51 a.m., Wednesday).